Cardinal Energy (TSE:CJ) Sets New 52-Week High - Time to Buy?

Key Points

• Cardinal Energy hit a new 52-week high of C$11.20 (last C$11.17) and has seen several analyst upgrades — including CIBC and RBC lifting targets to C$11.00 — leaving an average analyst rating of Buy with an average target of C$10.50.
• The company pays a monthly dividend that annualizes to a 6.4% yield, but the dividend payout ratio is an unusually high 553.85%, which raises questions about sustainability.
• Recent fundamentals show a quarterly EPS of C($0.18), a market cap of C$1.95 billion and a P/E of 86.62, while Cardinal is transitioning its first thermal SAGD project in Saskatchewan into production to support low-decline oil output.

Cardinal Energy Ltd. (TSE:CJ - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The company traded as high as C$11.20 and last traded at C$11.17, with a volume of 220916 shares. The stock had previously closed at C$10.90.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Raymond James Financial boosted their target price on Cardinal Energy from C$9.00 to C$9.50 and gave the company a "market perform" rating in a report on Thursday, February 5th. Canadian Imperial Bank of Commerce raised Cardinal Energy from a "hold" rating to a "strong-buy" rating and lifted their price target for the stock from C$7.75 to C$11.00 in a research report on Thursday, February 5th. Finally, Royal Bank Of Canada boosted their price objective on Cardinal Energy from C$9.50 to C$11.00 and gave the company an "outperform" rating in a research note on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Cardinal Energy has an average rating of "Buy" and an average target price of C$10.50.

Cardinal Energy Trading Up 3.3%

The company has a debt-to-equity ratio of 29.09, a current ratio of 0.54 and a quick ratio of 0.67. The company has a market capitalization of C$1.95 billion, a price-to-earnings ratio of 86.62, a price-to-earnings-growth ratio of -0.26 and a beta of 0.53. The business's 50 day simple moving average is C$9.64 and its 200 day simple moving average is C$8.77.

Cardinal Energy (TSE:CJ - Get Free Report) last announced its earnings results on Thursday, March 12th. The company reported C($0.18) earnings per share for the quarter. Cardinal Energy had a return on equity of 2.35% and a net margin of 4.22%.The business had revenue of C$109.19 million for the quarter. Research analysts anticipate that Cardinal Energy Ltd. will post 0.625118 EPS for the current year.

Cardinal Energy Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 16th were given a dividend of $0.06 per share. This represents a c) dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend was Friday, February 27th. Cardinal Energy's dividend payout ratio (DPR) is presently 553.85%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.