Cardinal Energy (TSE:CJ) Reaches New 52-Week High – What’s Next?

Cardinal Energy Ltd. (TSE:CJ) shares hit a new 52-week high during trading on Monday. The company traded as high as C$13.61 and last traded at C$13.60, with a volume of 817,700 shares. The stock had previously closed at C$13.45.

Analyst Ratings Changes

A number of research firms have weighed in on CJ. Royal Bank Of Canada downgraded Cardinal Energy from a “moderate buy” rating to a “hold” rating and lifted their price objective for the company from C$14.00 to C$14.50 in a report on Tuesday, October 13th. Raymond James Financial raised Cardinal Energy from a “hold” rating to a “moderate buy” rating and increased their target price for the stock from C$12.00 to C$15.00 in a report on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$13.38.

Cardinal Energy Stock Down 1.5%

The company has a debt-to-equity ratio of 13.97, a current ratio of 0.63 and a quick ratio of 0.67. The firm has a 50 day simple moving average of C$12.25 and a 200-day simple moving average of C$11.75. The stock has a market capitalization of C$2.36 billion, a price-to-earnings ratio of 38.29, a price-to-earnings-growth ratio of -0.26 and a beta of 0.24.

Cardinal Energy (TSE:CJ) last issued its earnings results on Tuesday, July 28th. The company reported C$0.38 EPS for the quarter. Cardinal Energy had a net margin of 10.69% and a return on equity of 6.96%. The company had revenue of C$193.44 million for the quarter. On average, sell-side analysts forecast that Cardinal Energy Ltd. will post 0.63 EPS for the current fiscal year.

Cardinal Energy Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 16th will be issued a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Friday, October 30th. Cardinal Energy’s dividend payout ratio (DPR) is currently 205.71%.

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.