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

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, BayStreet.CA reports. The firm currently has a neutral rating on the stock.

Several other analysts also recently issued reports on the company. Raymond James cut their price target on Cardinal Energy from C$9.00 to C$8.50 and set a market perform rating on the stock in a report on Friday, January 19th. ATB Capital reduced their price target 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.

Cardinal Energy Price Performance

Shares of CJ 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. The firm has a market cap of C$1.11 billion, a price-to-earnings ratio of 10.80, a PEG ratio of -0.26 and a beta of 2.99. Cardinal Energy has a 52 week low of C$5.75 and a 52 week high of C$7.96. The stock has a 50 day moving average of C$6.83 and a 200-day moving average of C$6.75.

Cardinal Energy (TSE:CJ) last released its quarterly earnings data on Thursday, March 14th. The company reported C$0.13 EPS for the quarter, missing analysts’ consensus estimates of C$0.20 by C($0.07). The business had revenue of C$148.04 million during the quarter, compared to analyst estimates 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, analysts forecast that Cardinal Energy will post 0.795302 EPS for the current year.

Cardinal Energy Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 10.26%. The ex-dividend date of this dividend is Monday, April 29th. Cardinal Energy’s dividend payout ratio is currently 110.77%.

Insider Buying and Selling at Cardinal Energy

In other Cardinal Energy news, Director John Albert Brussa purchased 27,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was bought at an average price of C$6.99 per share, with a total value of C$188,670.60. In related news, Director John Albert Brussa purchased 27,000 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were bought at an average cost 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 the 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 transaction of C$50,214.75. 24.00% of the stock is owned by company 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.