Cardinal Energy (TSE:CJ) PT Raised to C$8.50 at CIBC

Cardinal Energy (TSE:CJ) had its price target upped by CIBC from C$8.00 to C$8.50 in a research note published on Monday morning, BayStreet.CA reports. They currently have a neutral rating on the stock.

A number of other brokerages have also commented on CJ. Raymond James decreased their price objective on shares of Cardinal Energy from C$9.00 to C$8.50 and set a market perform rating on the stock in a report on Friday, January 19th. ATB Capital decreased their price objective on shares of Cardinal Energy from C$9.50 to C$8.50 and set an outperform rating on the stock in a report on Thursday, January 18th.

Cardinal Energy Price Performance

Shares of TSE CJ opened at C$7.21 on Monday. Cardinal Energy has a 12-month low of C$5.75 and a 12-month high of C$7.96. The firm’s 50-day simple moving average is C$6.87 and its 200 day simple moving average is C$6.75. The company has a quick ratio of 0.67, a current ratio of 0.54 and a debt-to-equity ratio of 5.44. The company has a market cap of C$1.14 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of -0.26 and a beta of 2.99.

Cardinal Energy (TSE:CJ) last issued its quarterly earnings data on Thursday, March 14th. The company reported C$0.13 EPS for the quarter, missing analysts’ consensus estimates of C$0.20 by C($0.07). Cardinal Energy had a return on equity of 11.22% and a net margin of 21.53%. The company had revenue of C$148.04 million for the quarter, compared to the consensus estimate of C$147.60 million. On average, research analysts expect that Cardinal Energy will post 0.795302 earnings per share for the current fiscal year.

Cardinal Energy Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.72 dividend on an annualized basis and a yield of 9.99%. Cardinal Energy’s payout ratio is presently 110.77%.

Insider Buying and Selling at Cardinal Energy

In other Cardinal Energy news, Senior Officer David Kelly sold 7,100 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of C$7.07, for a total transaction of C$50,214.75. In related news, Senior Officer David Kelly sold 7,100 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of C$7.07, for a total value of C$50,214.75. Also, Director John Albert Brussa purchased 27,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was purchased at an average price of C$6.99 per share, for a total transaction of C$188,670.60. Corporate insiders own 24.00% of the company’s stock.

About Cardinal Energy

Cardinal Energy Ltd. engages in the acquisition, development, optimization, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Cardinal Energy Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.