Cardinal Energy (TSE:CJ) Sets New 1-Year High – Time to Buy?

Cardinal Energy Ltd. (TSE:CJ)’s share price reached a new 52-week high during mid-day trading on Monday. The stock traded as high as C$13.67 and last traded at C$13.65, with a volume of 761,046 shares changing hands. The stock had previously closed at C$13.60.

Wall Street Analysts Forecast Growth

CJ has been the subject of a number of research reports. Raymond James Financial upgraded shares of Cardinal Energy from a “hold” rating to a “moderate buy” rating and upped their target price for the stock from C$12.00 to C$15.00 in a research report on Wednesday, September 16th. Royal Bank Of Canada downgraded shares of Cardinal Energy from a “moderate buy” rating to a “hold” rating and lifted their price target for the company from C$14.00 to C$14.50 in a report on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Cardinal Energy presently has an average rating of “Buy” and a consensus target price of C$13.38.

Cardinal Energy Price Performance

The company has a debt-to-equity ratio of 13.97, a quick ratio of 0.67 and a current ratio of 0.63. The firm has a fifty day simple moving average of C$12.44 and a two-hundred day simple moving average of C$11.23. The firm has a market cap of C$2.36 billion, a PE ratio of 38.43, a PEG ratio of -0.26 and a beta of 0.24.

Cardinal Energy (TSE:CJ) last posted its earnings results on Tuesday, July 28th. The company reported C$0.38 EPS for the quarter. The firm had revenue of C$193.44 million during the quarter. Cardinal Energy had a return on equity of 6.96% and a net margin of 10.69%. Equities analysts predict that Cardinal Energy Ltd. will post 0.63 EPS for the current fiscal year.

Cardinal Energy Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 16th will be paid a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Friday, October 30th. Cardinal Energy’s dividend payout ratio (DPR) is presently 205.71%.

Cardinal Energy Company Profile

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.