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.

Analyst Ratings Changes

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

Cardinal Energy Stock Down 0.2 %

CJ Stock opened at C$8.68 on Friday. Cardinal Energy has a fifty-two week low of C$2.82 and a fifty-two week high of C$9.73. The company has a debt-to-equity ratio of 8.17, a current ratio of 1.00 and a quick ratio of 0.99. The stock has a market capitalization of C$1.36 billion and a price-to-earnings ratio of 2.93. The business's fifty day moving average price is C$8.02 and its two-hundred day moving average price is C$7.42.

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

Cardinal Energy Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, August 15th will be given a $0.05 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.91%. This is an increase from Cardinal Energy's previous monthly dividend of $0.02. The ex-dividend date of this dividend is Thursday, July 28th. Cardinal Energy's payout ratio is presently 1.69%.

Insiders Place Their Bets

In related news, Director John Albert Brussa bought 20,000 shares of the business's stock in a transaction dated Monday, June 13th. The stock was purchased at an average cost of C$8.20 per share, for a total transaction of C$164,000.00. Following the transaction, the director now owns 3,556,354 shares in the company, valued at approximately C$29,162,102.80. Insiders have purchased a total of 70,000 shares of company stock worth $579,100 in the last 90 days.