Cardinal Energy (TSE:CJ) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of Cardinal Energy (TSE:CJ) from a hold rating to a moderate buy rating in a research report released on Monday, MarketBeat Ratings reports. They currently have C$13.00 price target on the stock, up from their previous price target of C$9.50.

Other research analysts have also recently issued research reports about the company. Canadian Imperial Bank of Commerce upgraded Cardinal Energy from a “hold” rating to a “strong-buy” rating and increased their price objective for the stock from C$7.75 to C$11.00 in a research report on Thursday, February 5th. Royal Bank Of Canada upped their price target on shares of Cardinal Energy from C$9.50 to C$11.00 and gave the stock an “outperform” rating in a research note on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$11.67.

Cardinal Energy Stock Performance

TSE CJ opened at C$10.61 on Monday. The stock has a market capitalization of C$1.84 billion, a price-to-earnings ratio of 81.62, a PEG ratio of -0.26 and a beta of 0.53. The business’s 50 day moving average is C$9.97 and its two-hundred day moving average is C$8.95. Cardinal Energy has a 12-month low of C$4.64 and a 12-month high of C$11.77. The company has a current ratio of 0.54, a quick ratio of 0.67 and a debt-to-equity ratio of 29.09.

Cardinal Energy (TSE:CJ) last posted its quarterly earnings results on Thursday, March 12th. The company reported C($0.18) EPS for the quarter. Cardinal Energy had a net margin of 4.22% and a return on equity of 2.35%. The business had revenue of C$109.19 million during the quarter. Research analysts expect that Cardinal Energy will post 0.625118 EPS for the current year.

Cardinal Energy Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 16th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 6.8%. Cardinal Energy’s payout ratio is 553.85%.

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.