Cardinal Energy - CJ Stock Forecast, Price & News

Cardinal Energy Ltd. engages in the acquisition, exploration, and production of low decline light, medium, and heavy quality oil, and natural gas in Western Canada. It has operations in the provinces of Alberta and Saskatchewan. As of February 24, 2022, the company had total proved plus probable oil and gas reserves are 110,391 thousand barrels of oil equivalent. Cardinal Energy Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.

Cardinal Energy Stock Performance

Shares of CJ traded up C$0.12 during trading hours on Friday, hitting C$8.80. The company's stock had a trading volume of 1,562,578 shares, compared to its average volume of 1,432,393. The business has a 50 day simple moving average of C$8.02 and a two-hundred day simple moving average of C$7.46. The company has a debt-to-equity ratio of 8.17, a current ratio of 1.00 and a quick ratio of 0.99. Cardinal Energy has a 52-week low of C$2.82 and a 52-week high of C$9.73. The company has a market cap of C$1.38 billion and a price-to-earnings ratio of 2.97.

Cardinal Energy (TSE:CJ - Get Rating) last released its quarterly earnings data on Thursday, May 12th. The company reported C$0.35 EPS for the quarter, beating analysts' consensus estimates of C$0.29 by C$0.06. The firm had revenue of C$174.34 million during the quarter. On average, equities analysts expect that Cardinal Energy will post 2 earnings per share for the current fiscal year.

Cardinal Energy Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 15th. Shareholders of record on Monday, August 15th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, July 28th. This is a positive change from Cardinal Energy's previous monthly dividend of $0.02. This represents a $0.60 annualized dividend and a yield of 6.82%. Cardinal Energy's payout ratio is presently 1.69%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CJ. Raymond James raised their price target on shares of Cardinal Energy from C$9.50 to C$10.00 and gave the company an "outperform" rating in a research report on Tuesday, August 2nd. Stifel Nicolaus raised their price objective on shares of Cardinal Energy from C$12.25 to C$13.00 in a report on Tuesday, August 2nd. Finally, CIBC raised their price objective on shares of Cardinal Energy from C$10.00 to C$11.00 in a report on Tuesday, August 2nd.

Insider Buying and Selling at Cardinal Energy

In other Cardinal Energy news, Director John Albert Brussa acquired 10,000 shares of the stock in a transaction dated Monday, June 6th. The stock was purchased at an average cost of C$8.76 per share, for a total transaction of C$87,600.00. Following the acquisition, the director now owns 3,536,354 shares in the company, valued at approximately C$30,978,461.04. Insiders purchased a total of 70,000 shares of company stock worth $579,100 over the last three months.