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 Up 2.5 %
TSE:CJ opened at C$8.51 on Friday. Cardinal Energy has a 52 week low of C$2.82 and a 52 week high of C$9.73. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 8.17. The business's fifty day simple moving average is C$8.07 and its 200-day simple moving average is C$7.33. The firm has a market cap of C$1.33 billion and a PE ratio of 2.88.
Cardinal Energy (TSE:CJ - Get Rating) last posted its quarterly earnings results on Thursday, May 12th. The company reported C$0.35 EPS for the quarter, topping the consensus estimate of C$0.29 by C$0.06. The company had revenue of C$174.34 million for the quarter. As a group, equities analysts anticipate that Cardinal Energy will post 1.35 earnings per share for the current year.
Cardinal Energy Increases Dividend
The business also recently declared a monthly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, August 15th will be issued a dividend of $0.05 per share. This represents a $0.60 annualized dividend and a dividend yield of 7.05%. 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. Cardinal Energy's payout ratio is currently 1.69%.
Wall Street Analyst Weigh In
CJ has been the topic of a number of research reports. Stifel Nicolaus raised their price objective on Cardinal Energy from C$12.25 to C$13.00 in a report on Tuesday, August 2nd. Raymond James raised their price objective on Cardinal Energy from C$9.50 to C$10.00 and gave the company an "outperform" rating in a report on Tuesday, August 2nd. Finally, CIBC raised their price objective on Cardinal Energy from C$10.00 to C$11.00 in a report on Tuesday, August 2nd.
Insider Transactions at Cardinal Energy
In related news, Director John Albert Brussa purchased 10,000 shares of Cardinal Energy stock in a transaction dated Monday, June 20th. The shares were acquired at an average price of C$7.60 per share, for a total transaction of C$76,000.00. Following the acquisition, the director now directly owns 3,576,354 shares in the company, valued at C$27,180,290.40. Insiders have purchased a total of 70,000 shares of company stock worth $579,100 in the last quarter.