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

Key Points

• Cardinal Energy shares reached a new 52-week high of C$13.61 during Monday trading, up from a previous close of C$13.45, with approximately 817,700 shares traded.
• Analyst sentiment remains broadly positive, with the stock carrying an average “Buy” rating and a C$13.38 consensus price target. Recent recommendations ranged from RBC’s downgrade to “Hold” to Raymond James’ upgrade to “Moderate Buy.”
• Cardinal announced a monthly dividend of C$0.06 per share, equating to C$0.72 annually and a 5.3% yield; however, its payout ratio is elevated at 205.71%.

Cardinal Energy Ltd. (TSE:CJ - Get Free Report)'s share price reached a new 52-week high during mid-day trading 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 trading hands. The stock had previously closed at C$13.45.

Analyst Upgrades and Downgrades

CJ has been the subject of several recent analyst reports. Royal Bank Of Canada lowered shares of Cardinal Energy from a "moderate buy" rating to a "hold" rating and boosted their price target for the stock from C$14.00 to C$14.50 in a 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 company from C$12.00 to C$15.00 in a report on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of C$13.38.

Cardinal Energy Trading Up 1.1%

The company has a 50 day simple moving average of C$12.17 and a 200 day simple moving average of C$11.71. The company has a debt-to-equity ratio of 13.97, a quick ratio of 0.67 and a current ratio of 0.63. The company has a market capitalization of C$2.39 billion, a PE ratio of 38.86, a price-to-earnings-growth ratio of -0.26 and a beta of 0.24.

Cardinal Energy (TSE:CJ - Get Free Report) last released 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%. Analysts anticipate that Cardinal Energy Ltd. will post 0.63 earnings per share for the current year.

Cardinal Energy Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 16th will be paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Friday, October 30th. Cardinal Energy's payout ratio is 205.71%.

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.

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