Cardinal Energy (CJ) Sets New 52-Week Low at $3.23

Shares of Cardinal Energy Ltd (TSE:CJ) hit a new 52-week low on Friday . The stock traded as low as C$3.23 and last traded at C$3.30, with a volume of 600083 shares. The stock had previously closed at C$3.51.

Several brokerages have weighed in on CJ. Raymond James dropped their price objective on shares of Cardinal Energy from C$5.75 to C$5.25 and set a “market perform” rating for the company in a research note on Friday, November 2nd. GMP Securities decreased their target price on shares of Cardinal Energy from C$7.25 to C$6.25 in a report on Monday, November 5th. CIBC decreased their target price on shares of Cardinal Energy from C$7.00 to C$6.75 in a report on Friday, October 5th. Finally, Royal Bank of Canada decreased their target price on shares of Cardinal Energy from C$8.00 to C$7.00 and set an “outperform” rating on the stock in a report on Monday, November 5th.

The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 35.12.

The firm also recently announced a monthly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 15th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $0.42 annualized dividend and a yield of 12.92%. Cardinal Energy’s dividend payout ratio is presently -47.30%.

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Cardinal Energy Company Profile (TSE:CJ)

Cardinal Energy Ltd. engages in the acquisition, exploration, and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan, Canada. It holds interests in the Wainwright, Bantry, Mitsue, and Grande Prairie properties. The company was incorporated in 2010 and is headquartered in Calgary, Canada.

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