Cardinal Energy (TSE:CJ) Hits New 12-Month High – Here’s What Happened

Cardinal Energy Ltd. (TSE:CJ) shares reached a new 52-week high 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 traded. The stock had previously closed at C$13.45.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Raymond James Financial raised shares of Cardinal Energy from a “hold” rating to a “moderate buy” rating and upped their price objective for the company from C$12.00 to C$15.00 in a research note on Wednesday, September 16th. Royal Bank Of Canada lowered shares of Cardinal Energy from a “moderate buy” rating to a “hold” rating and raised their target price for the stock from C$14.00 to C$14.50 in a research note on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Cardinal Energy has an average rating of “Buy” and a consensus price target of C$13.38.

Cardinal Energy Price Performance

The stock has a 50 day simple moving average of C$12.17 and a two-hundred day simple moving average of C$11.71. The company has a market cap of C$2.39 billion, a price-to-earnings ratio of 38.86, a price-to-earnings-growth ratio of -0.26 and a beta of 0.24. The company has a debt-to-equity ratio of 13.97, a current ratio of 0.63 and a quick ratio of 0.67.

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

Cardinal Energy Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 16th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.3%. Cardinal Energy’s dividend payout ratio 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.