Cardinal Energy Ltd. (TSE:CJ) Stock to Pay Monthly Dividend of $0.06

Key Points

• Cardinal Energy declared a monthly dividend of C$0.06 per share, equivalent to C$0.72 annually and a 5.4% yield. The ex-dividend date and record date are October 30 and November 16, respectively.
• Cardinal shares opened at C$13.40, near their 52-week high of C$13.69, with a market capitalization of C$2.36 billion.
• Analyst sentiment remains positive overall, with an average rating of “Buy” and an average price target of C$13.38, despite mixed recent rating changes.

Cardinal Energy Ltd. (TSE:CJ - Get Free Report) declared a monthly dividend on Friday, October 30th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.06 per share on Monday, November 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Friday, October 30th.

Cardinal Energy Price Performance

Cardinal Energy stock opened at C$13.40 on Wednesday. The firm has a market capitalization of C$2.36 billion, a PE ratio of 38.29, a P/E/G ratio of -0.26 and a beta of 0.24. The company has a quick ratio of 0.67, a current ratio of 0.63 and a debt-to-equity ratio of 13.97. Cardinal Energy has a 52 week low of C$7.70 and a 52 week high of C$13.69. The firm's 50-day simple moving average is C$12.44 and its 200 day simple moving average is C$11.23.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on CJ. Royal Bank Of Canada lowered shares of Cardinal Energy from a "moderate buy" rating to a "hold" rating and raised their price target for the stock from C$14.00 to C$14.50 in a research report on Tuesday, October 13th. Raymond James Financial raised shares of Cardinal Energy from a "hold" rating to a "moderate buy" rating and increased their price objective for the stock from C$12.00 to C$15.00 in a research report on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Cardinal Energy has an average rating of "Buy" and an average target price of C$13.38.

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.

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