Cardinal Energy (TSE:CJ) Sets New 12-Month High - Here's Why

Key Points

• Cardinal Energy's stock reached a new 52-week high at C$7.46, closing at C$7.42 with a trading volume of 173,916 shares.
• The company announced a monthly dividend of $0.06, reflecting an annualized yield of 9.7%, despite a high dividend payout ratio of 111.27%.
• Cardinal Energy has a market capitalization of C$1.18 billion and operates primarily in the acquisition and production of oil and gas in Alberta and Saskatchewan.

Cardinal Energy Ltd. (TSE:CJ - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$7.46 and last traded at C$7.42, with a volume of 173916 shares changing hands. The stock had previously closed at C$7.44.

Cardinal Energy Trading Down 1.9%

The company's 50-day moving average price is C$7.06 and its 200-day moving average price is C$6.50. 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 firm has a market cap of C$1.17 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of -0.26 and a beta of 0.75.

Cardinal Energy Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 15th will be paid a $0.06 dividend. This represents a c) annualized dividend and a dividend yield of 9.9%. The ex-dividend date of this dividend is Friday, August 29th. Cardinal Energy's dividend payout ratio (DPR) is currently 130.91%.

Cardinal Energy Company Profile

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.