Cardinal Energy (TSE:CJ) Price Target Lowered to C$13.50 at Royal Bank Of Canada

Cardinal Energy (TSE:CJ) had its price objective lowered by Royal Bank Of Canada from C$14.00 to C$13.50 in a research report report published on Wednesday morning,BayStreet.CA reports.

A number of other equities research analysts have also weighed in on CJ. Raymond James Financial raised shares of Cardinal Energy from a “hold” rating to a “moderate buy” rating and boosted their price objective for the company from C$9.50 to C$13.00 in a report on Monday, March 30th. BMO Capital Markets raised shares of Cardinal Energy from a “hold” rating to an “outperform” rating and set a C$13.00 price objective on the stock in a research note on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$12.62.

Cardinal Energy Stock Down 0.7%

Shares of Cardinal Energy stock opened at C$10.79 on Wednesday. The firm’s 50 day moving average price is C$11.54 and its 200-day moving average price is C$10.60. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 18.36. Cardinal Energy has a 52-week low of C$6.90 and a 52-week high of C$13.38. The company has a market cap of C$1.89 billion, a P/E ratio of 179.83, a PEG ratio of -0.26 and a beta of 0.20.

Cardinal Energy (TSE:CJ) last issued its quarterly earnings data on Thursday, May 7th. The company reported C$0.06 EPS for the quarter. Cardinal Energy had a return on equity of 1.14% and a net margin of 2.09%.The firm had revenue of C$143.22 million during the quarter. On average, sell-side analysts predict that Cardinal Energy will post 0.625118 EPS for the current fiscal year.

Cardinal Energy Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be paid a $0.06 dividend. This represents a c) annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend is Friday, July 31st. Cardinal Energy’s dividend payout ratio (DPR) is currently 1,200.00%.

Insiders Place Their Bets

In other news, insider Kenneth Cory Lee Younger sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of C$12.64, for a total transaction of C$316,000.00. Following the transaction, the insider directly owned 129,338 shares in the company, valued at C$1,634,832.32. The trade was a 16.20% decrease in their position. 23.38% of the stock is owned by company insiders.

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.