Cardinal Energy (TSE:CJ) Given New C$8.50 Price Target at CIBC

Cardinal Energy (TSE:CJ) had its price objective upped by CIBC from C$8.00 to C$8.50 in a research report report published on Monday morning, BayStreet.CA reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also recently issued reports on CJ. ATB Capital lowered their target price on shares of Cardinal Energy from C$9.50 to C$8.50 and set an outperform rating on the stock in a research note on Thursday, January 18th. Raymond James lowered their price target on shares of Cardinal Energy from C$9.00 to C$8.50 and set a market perform rating on the stock in a research report on Friday, January 19th.

Cardinal Energy Trading Up 1.6 %

Shares of Cardinal Energy stock opened at C$7.02 on Monday. The company has a current ratio of 0.54, a quick ratio of 0.67 and a debt-to-equity ratio of 5.44. Cardinal Energy has a twelve month low of C$5.75 and a twelve month high of C$7.96. The firm has a market capitalization of C$1.11 billion, a PE ratio of 10.80, a P/E/G ratio of -0.26 and a beta of 2.99. The firm’s 50-day moving average price is C$6.83 and its 200 day moving average price is C$6.75.

Cardinal Energy (TSE:CJ) last released its earnings results on Thursday, March 14th. The company reported C$0.13 earnings per share for the quarter, missing the consensus estimate of C$0.20 by C($0.07). Cardinal Energy had a net margin of 21.53% and a return on equity of 11.22%. The firm had revenue of C$148.04 million during the quarter, compared to analysts’ expectations of C$147.60 million. On average, sell-side analysts predict that Cardinal Energy will post 0.795302 EPS for the current fiscal year.

Cardinal Energy Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.26%. The ex-dividend date of this dividend is Monday, April 29th. Cardinal Energy’s dividend payout ratio (DPR) is presently 110.77%.

Insider Transactions at Cardinal Energy

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

Cardinal Energy Company Profile

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.