Cardinal Energy (TSE:CJ) Share Price Passes Above Fifty Day Moving Average – Here’s What Happened

Cardinal Energy Ltd. (TSE:CJ) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$8.80 and traded as high as C$9.42. Cardinal Energy shares last traded at C$9.33, with a volume of 643,814 shares.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Royal Bank Of Canada raised their target price on Cardinal Energy from C$8.00 to C$8.50 and gave the company an “outperform” rating in a report on Tuesday, October 7th. CIBC lowered their price objective on shares of Cardinal Energy from C$8.25 to C$7.75 in a research note on Tuesday, January 13th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$8.13.

Cardinal Energy Price Performance

The company has a market cap of C$1.50 billion, a P/E ratio of 19.44, a P/E/G ratio of -0.26 and a beta of 0.42. The stock has a 50-day simple moving average of C$8.80 and a 200 day simple moving average of C$8.05. The company has a debt-to-equity ratio of 8.05, a quick ratio of 0.67 and a current ratio of 0.50.

Cardinal Energy (TSE:CJ) last released its quarterly earnings data on Thursday, November 6th. The company reported C$0.09 earnings per share (EPS) for the quarter. The business had revenue of C$104.82 million for the quarter. Cardinal Energy had a return on equity of 11.24% and a net margin of 19.57%. On average, equities analysts expect that Cardinal Energy Ltd. will post 0.625118 EPS for the current year.

Cardinal Energy Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 17th were paid a $0.06 dividend. The ex-dividend date was Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. Cardinal Energy’s dividend payout ratio is currently 150.00%.

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.