Cardinal Energy (TSE:CJ) Posts Earnings Results

Cardinal Energy (TSE:CJ) announced its earnings results on Tuesday. The company reported C$0.38 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$193.44 million during the quarter. Cardinal Energy had a net margin of 2.09% and a return on equity of 1.14%.

Cardinal Energy Stock Down 1.2%

Shares of Cardinal Energy stock traded down C$0.13 during trading on Tuesday, reaching C$11.07. The company had a trading volume of 1,669,045 shares, compared to its average volume of 1,277,698. The company has a market cap of C$1.94 billion, a price-to-earnings ratio of 184.50, a price-to-earnings-growth ratio of -0.26 and a beta of 0.20. The firm’s fifty day moving average is C$11.33 and its 200-day moving average is C$10.74. The company has a debt-to-equity ratio of 18.36, a quick ratio of 0.67 and a current ratio of 0.69. Cardinal Energy has a fifty-two week low of C$6.95 and a fifty-two week high of C$13.38.

Cardinal Energy Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 6.5%. Cardinal Energy’s payout ratio is presently 1,200.00%.

Insider Activity at Cardinal Energy

In related news, insider Kenneth Cory Lee Younger sold 25,000 shares of Cardinal Energy stock in a transaction dated Friday, May 15th. The stock was sold at an average price of C$12.64, for a total value of C$316,000.00. Following the completion of the transaction, the insider directly owned 129,338 shares in the company, valued at approximately C$1,634,832.32. This trade represents a 16.20% decrease in their ownership of the stock. Insiders own 23.38% of the company’s stock.

Analyst Upgrades and Downgrades

CJ has been the topic of a number of recent analyst reports. Raymond James Financial upgraded shares of Cardinal Energy from a “hold” rating to a “moderate buy” rating and boosted their price objective for the stock from C$9.50 to C$13.00 in a report on Monday, March 30th. BMO Capital Markets upgraded Cardinal Energy from a “hold” rating to an “outperform” rating and set a C$13.00 target price for the company in a research note on Tuesday, April 7th. Finally, Royal Bank Of Canada dropped their target price on Cardinal Energy from C$14.00 to C$13.50 in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$12.62.

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.