Cardinal Energy (TSE:CJ) Sets New 1-Year High - What's Next?

Key Points

• Cardinal Energy reached a new 52-week high, trading as high as C$13.67 and closing near that level at C$13.65. The stock’s average analyst rating is “Buy,” with an average price target of C$13.38.
• Analyst sentiment is mixed: Royal Bank of Canada downgraded the shares to “Hold,” while Raymond James upgraded them to “Moderate Buy” and raised its price target to C$15.00.
• Cardinal announced a monthly dividend of C$0.06 per share, equivalent to C$0.72 annually and a 5.3% yield. However, its payout ratio stands at a high 205.71%.

Cardinal Energy Ltd. (TSE:CJ - Get Free Report) hit a new 52-week high on Monday. The company traded as high as C$13.67 and last traded at C$13.65, with a volume of 761,046 shares changing hands. The stock had previously closed at C$13.60.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CJ shares. Royal Bank Of Canada downgraded Cardinal Energy from a "moderate buy" rating to a "hold" rating and increased 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 upped their price objective for the stock from C$12.00 to C$15.00 in a research note on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Cardinal Energy has an average rating of "Buy" and an average target price of C$13.38.

Cardinal Energy Price Performance

The stock has a fifty day moving average price of C$12.38 and a 200-day moving average price of C$11.80. The firm has a market capitalization of C$2.40 billion, a PE ratio of 39.03, a P/E/G 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 issued its quarterly earnings data on Tuesday, July 28th. The company reported C$0.38 earnings per share for the quarter. Cardinal Energy had a return on equity of 6.96% and a net margin of 10.69%. The firm had revenue of C$193.44 million during the quarter. Sell-side analysts forecast that Cardinal Energy Ltd. will post 0.63 EPS for the current fiscal year.

Cardinal Energy Dividend Announcement

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