Cardinal Energy (TSE:CJ) Sets New 1-Year High – What’s Next?

Cardinal Energy Ltd. (TSE:CJ)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as C$10.32 and last traded at C$10.32, with a volume of 149570 shares. The stock had previously closed at C$10.16.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Raymond James Financial lifted their target price on Cardinal Energy from C$9.00 to C$9.50 and gave the company a “market perform” rating in a research report on Thursday, February 5th. Canadian Imperial Bank of Commerce upgraded Cardinal Energy from a “hold” rating to a “strong-buy” rating and raised their price objective for the company from C$7.75 to C$11.00 in a research note on Thursday, February 5th. Finally, Royal Bank Of Canada lifted their price objective on shares of Cardinal Energy from C$9.00 to C$9.50 and gave the stock an “outperform” rating in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$10.00.

Cardinal Energy Price Performance

The stock has a market cap of C$1.81 billion, a PE ratio of 21.75, a P/E/G ratio of -0.26 and a beta of 0.53. The company has a debt-to-equity ratio of 24.20, a quick ratio of 0.67 and a current ratio of 0.48. The business has a 50 day moving average price of C$9.33 and a two-hundred day moving average price of C$8.59.

Cardinal Energy (TSE:CJ) last issued its quarterly earnings results on Thursday, March 12th. The company reported C($0.18) EPS for the quarter. The business had revenue of C$109.19 million for the quarter. Cardinal Energy had a net margin of 14.36% and a return on equity of 8.44%. Research analysts expect that Cardinal Energy Ltd. will post 0.625118 earnings per share for the current fiscal year.

Cardinal Energy Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 16th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 6.9%. Cardinal Energy’s dividend payout ratio (DPR) is currently 150.00%.

About Cardinal Energy

Cardinal is a Canadian oil and natural gas production company with operations focused on low decline sustainable oil production in Western Canada. Cardinal has recently completed its first thermal SAGD project in Reford, Saskatchewan and has transitioned to the production phase of operations. The Company’s portfolio of conventional and SAGD project inventory offers a complimentary low decline, long life resource base that is ideally suited to sustain our commitment to meaningful dividend returns to shareholders.