Cardinal Energy (TSE:CJ) Reaches New 1-Year High – Still a Buy?

Shares of Cardinal Energy Ltd. (TSE:CJ) reached a new 52-week high on Tuesday . The company traded as high as C$12.20 and last traded at C$12.18, with a volume of 347755 shares trading hands. The stock had previously closed at C$11.93.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CJ shares. Canadian Imperial Bank of Commerce raised Cardinal Energy from a “hold” rating to a “strong-buy” rating and raised their price target for the company from C$7.75 to C$11.00 in a report on Thursday, February 5th. Raymond James Financial upgraded shares of Cardinal Energy from a “hold” rating to a “moderate buy” rating and raised their price objective for the company from C$9.50 to C$13.00 in a research report on Monday, March 30th. Royal Bank Of Canada raised their price objective on shares of Cardinal Energy from C$9.50 to C$11.00 and gave the company an “outperform” rating in a research report on Monday, March 16th. Finally, BMO Capital Markets upgraded shares of Cardinal Energy from a “hold” rating to an “outperform” rating and set a C$13.00 price target for the company in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$12.00.

Cardinal Energy Trading Up 0.2%

The company has a debt-to-equity ratio of 29.09, a current ratio of 0.54 and a quick ratio of 0.67. The business has a 50 day moving average of C$10.88 and a 200 day moving average of C$9.46. The firm has a market capitalization of C$2.15 billion, a price-to-earnings ratio of 95.46, a PEG ratio of -0.26 and a beta of 0.16.

Cardinal Energy (TSE:CJ) last announced its quarterly earnings data on Thursday, March 12th. The company reported C($0.18) EPS for the quarter. Cardinal Energy had a return on equity of 2.35% and a net margin of 4.22%.The company had revenue of C$109.19 million for the quarter. As a group, research analysts predict that Cardinal Energy Ltd. will post 0.625118 earnings per share for the current fiscal year.

Cardinal Energy Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 15th will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 5.8%. Cardinal Energy’s payout ratio is currently 553.85%.

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.