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

Cardinal Energy Ltd. (TSE:CJ)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$13.38 and last traded at C$13.05, with a volume of 220048 shares. The stock had previously closed at C$12.88.

Analyst Ratings Changes

A number of analysts have issued reports on the company. BMO Capital Markets raised Cardinal Energy from a “hold” rating to an “outperform” rating and set a C$13.00 price objective on the stock in a research note on Tuesday, April 7th. Raymond James Financial raised Cardinal Energy from a “hold” rating to a “moderate buy” rating and lifted their price objective for the stock from C$9.50 to C$13.00 in a research note on Monday, March 30th. Canadian Imperial Bank of Commerce raised Cardinal Energy from a “hold” rating to a “strong-buy” rating and lifted their price objective for the stock 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 Cardinal Energy from C$9.50 to C$11.00 and gave the stock an “outperform” rating in a research note on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$12.00.

Cardinal Energy Trading Down 2.5%

The firm has a market cap of C$2.24 billion, a P/E ratio of 213.33, a P/E/G ratio of -0.26 and a beta of 0.26. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 18.36. The stock has a 50 day simple moving average of C$11.51 and a 200-day simple moving average of C$9.88.

Cardinal Energy (TSE:CJ) last released its earnings results on Thursday, March 12th. The company reported C($0.18) earnings per share for the quarter. The company had revenue of C$109.19 million for the quarter. Cardinal Energy had a net margin of 2.09% and a return on equity of 1.14%. On average, equities research analysts expect that Cardinal Energy Ltd. will post 0.625118 EPS for the current fiscal year.

Cardinal Energy Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 15th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) annualized dividend and a dividend yield of 5.6%. Cardinal Energy’s payout ratio is currently 1,200.00%.

Insider Buying and Selling at Cardinal Energy

In other news, insider Kenneth Cory Lee Younger sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of C$12.64, for a total transaction of C$316,000.00. Following the transaction, the insider owned 129,338 shares of the company’s stock, valued at approximately C$1,634,832.32. The trade was a 16.20% decrease in their position. Corporate insiders own 23.38% of the company’s stock.

Cardinal Energy Company Profile

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.