Cardinal Energy (TSE:CJ) Stock Price Crosses Above 50-Day Moving Average - Time to Sell?

Key Points

• Cardinal Energy shares rose 3.2%, trading as high as C$13.14 and moving above the 50-day average of C$11.94; the stock last traded at C$13.13.
• Analyst sentiment is broadly positive, with an average “Buy” rating and a C$13.12 target price. Raymond James upgraded the stock to “moderate buy” with a C$15 target, while RBC lowered its target to C$13.50.
• Cardinal announced a monthly dividend of C$0.06, equivalent to C$0.72 annually and a 5.5% yield, though its payout ratio is high at 205.71%.

Cardinal Energy Ltd. (TSE:CJ - Get Free Report)'s stock price passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of C$11.94 and traded as high as C$13.14. Cardinal Energy shares last traded at C$13.13, with a volume of 1,228,427 shares trading hands.

Analyst Ratings Changes

Several research firms have issued reports on CJ. Royal Bank Of Canada decreased their price target on shares of Cardinal Energy from C$14.00 to C$13.50 in a research note on Wednesday, July 15th. Raymond James Financial raised shares of Cardinal Energy from a "hold" rating to a "moderate buy" rating and boosted their price objective for the company from C$12.00 to C$15.00 in a research report on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat.com, Cardinal Energy presently has an average rating of "Buy" and an average target price of C$13.12.

Cardinal Energy Stock Up 3.2%

The firm has a market cap of C$2.31 billion, a price-to-earnings ratio of 37.51, a PEG 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. The firm has a fifty day moving average price of C$11.94 and a 200-day moving average price of C$11.63.

Cardinal Energy (TSE:CJ - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported C$0.38 EPS 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. As a group, sell-side analysts forecast that Cardinal Energy Ltd. will post 0.63 EPS for the current year.

Cardinal Energy Announces Dividend

The business also recently announced a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were issued a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Friday, July 31st. Cardinal Energy's payout ratio is presently 205.71%.

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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