Cardinal Energy (TSE:CJ) Price Target Raised to C$8.50

Cardinal Energy (TSE:CJ) had its target price increased by CIBC from C$8.00 to C$8.50 in a research note published on Monday morning, BayStreet.CA reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the stock. ATB Capital decreased their price objective on shares of Cardinal Energy from C$9.50 to C$8.50 and set an outperform rating for the company in a report on Thursday, January 18th. Raymond James dropped their target price on shares of Cardinal Energy from C$9.00 to C$8.50 and set a market perform rating for the company in a report on Friday, January 19th.

Cardinal Energy Price Performance

Cardinal Energy stock opened at C$7.25 on Monday. Cardinal Energy has a one year low of C$5.75 and a one year high of C$7.96. The business has a fifty day moving average price of C$6.88 and a 200-day moving average price of C$6.76. The company has a debt-to-equity ratio of 5.44, a current ratio of 0.54 and a quick ratio of 0.67. The firm has a market capitalization of C$1.15 billion, a P/E ratio of 11.15, a PEG ratio of -0.26 and a beta of 2.99.

Cardinal Energy (TSE:CJ) last posted its earnings results on Thursday, March 14th. The company reported C$0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.20 by C($0.07). The business had revenue of C$148.04 million during the quarter, compared to the consensus estimate of C$147.60 million. Cardinal Energy had a return on equity of 11.22% and a net margin of 21.53%. As a group, equities research analysts forecast that Cardinal Energy will post 0.795302 EPS for the current year.

Cardinal Energy Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 9.93%. Cardinal Energy’s dividend payout ratio is currently 110.77%.

Insider Activity at Cardinal Energy

In other news, Senior Officer David Kelly sold 7,100 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of C$7.07, for a total value of C$50,214.75. In related news, Director John Albert Brussa acquired 27,000 shares of Cardinal Energy stock in a transaction that occurred on Thursday, April 4th. The stock was purchased at an average price of C$6.99 per share, for a total transaction of C$188,670.60. Also, Senior Officer David Kelly sold 7,100 shares of Cardinal Energy stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of C$7.07, for a total transaction of C$50,214.75. 24.00% of the stock is owned by corporate insiders.

About Cardinal Energy

Cardinal Energy Ltd. engages in the acquisition, development, optimization, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Cardinal Energy Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.