Cardinal Energy (TSE:CJ) Cut to “Hold” at Royal Bank Of Canada

Royal Bank Of Canada lowered shares of Cardinal Energy (TSE:CJ) from a moderate buy rating to a hold rating in a research note released on Tuesday, MarketBeat Ratings reports. The brokerage currently has C$14.50 price objective on the stock, up from their prior price objective of C$14.00.

Separately, Raymond James Financial upgraded Cardinal Energy from a “hold” rating to a “moderate buy” rating and upped their price target for the stock from C$12.00 to C$15.00 in a research note on Wednesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$13.38.

Cardinal Energy Price Performance

CJ opened at C$13.37 on Tuesday. The stock has a market cap of C$2.35 billion, a price-to-earnings ratio of 38.20, a PEG ratio of -0.26 and a beta of 0.24. Cardinal Energy has a 1 year low of C$7.52 and a 1 year high of C$13.57. The company has a current ratio of 0.63, a quick ratio of 0.67 and a debt-to-equity ratio of 13.97. The stock has a fifty day moving average price of C$12.12 and a 200 day moving average price of C$11.70.

Cardinal Energy (TSE:CJ) last released its quarterly earnings data on Tuesday, July 28th. The company reported C$0.38 earnings per share (EPS) for the quarter. Cardinal Energy had a net margin of 10.69% and a return on equity of 6.96%. The business had revenue of C$193.44 million during the quarter. Analysts forecast that Cardinal Energy will post 0.63 EPS for the current fiscal year.

Cardinal Energy Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 16th will be paid a $0.06 dividend. The ex-dividend date is Friday, October 30th. This represents a $0.72 dividend on an annualized basis and a yield of 5.4%. Cardinal Energy’s dividend payout ratio (DPR) 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.