Cardinal Energy (TSE:CJ) Hits New 12-Month High – Time to Buy?

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Royal Bank Of Canada lowered shares of Cardinal Energy from a “moderate buy” rating to a “hold” rating and lifted their price target for the stock from C$14.00 to C$14.50 in a report on Tuesday, October 13th. Raymond James Financial upgraded Cardinal Energy from a “hold” rating to a “moderate buy” rating and increased their price objective for the company from C$12.00 to C$15.00 in a report on Wednesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$13.38.

Cardinal Energy Trading Up 0.4%

The company has a debt-to-equity ratio of 13.97, a current ratio of 0.63 and a quick ratio of 0.67. The stock has a market cap of C$2.40 billion, a price-to-earnings ratio of 39.03, a P/E/G ratio of -0.26 and a beta of 0.24. The company’s fifty day moving average price is C$12.38 and its 200-day moving average price is C$11.80.

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

Cardinal Energy Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 16th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.3%. Cardinal Energy’s dividend payout ratio (DPR) is currently 205.71%.

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.