Cardinal Energy (TSE:CJ) Hits New 52-Week High - Still a Buy?

Key Points

• Cardinal Energy reached a new 52-week high of C$13.47, trading up 2.1% at approximately C$13.41, above its 50-day and 200-day moving averages.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of C$13.12; Raymond James upgraded the stock to “moderate buy” with a C$15 target, while RBC lowered its target to C$13.50.
• Cardinal reported quarterly EPS of C$0.38 on C$193.44 million in revenue and pays a monthly dividend yielding about 5.4%. However, its dividend payout ratio is elevated at 205.71%, and its current and quick ratios indicate limited liquidity.

Cardinal Energy Ltd. (TSE:CJ - Get Free Report) reached a new 52-week high during trading on Tuesday. The company traded as high as C$13.47 and last traded at C$13.41, with a volume of 514,467 shares. The stock had previously closed at C$13.13.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CJ. Royal Bank Of Canada reduced their target price on Cardinal Energy from C$14.00 to C$13.50 in a report on Wednesday, July 15th. 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 equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of C$13.12.

Cardinal Energy Stock Up 2.1%

The business's fifty day moving average is C$11.97 and its two-hundred day moving average is C$11.65. The company has a market cap of C$2.36 billion, a P/E ratio of 38.31, a price-to-earnings-growth ratio of -0.26 and a beta of 0.24. The company has a debt-to-equity ratio of 13.97, a quick ratio of 0.67 and a current ratio of 0.63.

Cardinal Energy (TSE:CJ - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported C$0.38 earnings per share (EPS) 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%. Equities analysts predict that Cardinal Energy Ltd. will post 0.63 EPS for the current year.

Cardinal Energy Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 17th were given a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Friday, July 31st. Cardinal Energy's dividend payout ratio is presently 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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