Cardinal Energy (TSE:CJ) Hits New 1-Year High - Here's What Happened

Shares of Cardinal Energy Ltd. (TSE:CJ - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as C$7.28 and last traded at C$7.27, with a volume of 340687 shares changing hands. The stock had previously closed at C$7.18.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank Of Canada upgraded shares of Cardinal Energy from a "sector perform" rating to an "outperform" rating and upped their price objective for the stock from C$7.00 to C$7.50 in a research report on Thursday, April 17th. CIBC cut their price objective on shares of Cardinal Energy from C$8.00 to C$7.00 in a research report on Thursday, April 10th.

Cardinal Energy Trading Up 1.3%

The company has a quick ratio of 0.67, a current ratio of 0.50 and a debt-to-equity ratio of 8.05. The business's 50 day moving average is C$6.66 and its 200-day moving average is C$6.37. The firm has a market cap of C$1.16 billion, a P/E ratio of 11.23, a price-to-earnings-growth ratio of -0.26 and a beta of 2.81.

Cardinal Energy Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 15th will be issued a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 9.90%. The ex-dividend date is Thursday, July 31st. Cardinal Energy's dividend payout ratio is presently 111.27%.

Insider Buying and Selling

In other news, Director John Festival purchased 50,000 shares of Cardinal Energy stock in a transaction dated Thursday, May 15th. The stock was bought at an average price of C$6.10 per share, with a total value of C$305,000.00. 23.38% of the stock is currently owned by corporate insiders.

About Cardinal Energy

Cardinal Energy Ltd is an oil-focused Canadian company. The company's principal business activity is the acquisition, exploration, and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.