Other equities analysts have also recently issued reports about the company. Raymond James increased their price target on Cardinal Energy from C$9.50 to C$10.00 and gave the stock an outperform rating in a report on Tuesday. Stifel Nicolaus raised their price target on shares of Cardinal Energy from C$12.25 to C$13.00 in a report on Tuesday.
Cardinal Energy Price Performance
Shares of CJ opened at C$9.21 on Tuesday. The business has a 50-day moving average of C$8.11 and a 200-day moving average of C$7.27. The company has a debt-to-equity ratio of 8.17, a current ratio of 1.00 and a quick ratio of 0.99. The company has a market capitalization of C$1.44 billion and a price-to-earnings ratio of 3.11. Cardinal Energy has a 1 year low of C$2.82 and a 1 year high of C$9.73.
Cardinal Energy Increases Dividend
The firm also recently declared a monthly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, August 15th will be given a $0.05 dividend. The ex-dividend date is Thursday, July 28th. This represents a $0.60 annualized dividend and a yield of 6.51%. This is an increase from Cardinal Energy’s previous monthly dividend of $0.02. Cardinal Energy’s dividend payout ratio (DPR) is presently 1.69%.
Insider Buying and Selling at Cardinal Energy
In related news, Director John Albert Brussa bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 20th. The shares were bought at an average price of C$7.60 per share, with a total value of C$76,000.00. Following the completion of the transaction, the director now directly owns 3,576,354 shares in the company, valued at C$27,180,290.40. In the last quarter, insiders purchased 70,000 shares of company stock worth $579,100.
About Cardinal Energy
Cardinal Energy Ltd. engages in the acquisition, exploration, and production of low decline light, medium, and heavy quality oil, and natural gas in Western Canada. It has operations in the provinces of Alberta and Saskatchewan. As of February 24, 2022, the company had total proved plus probable oil and gas reserves are 110,391 thousand barrels of oil equivalent.
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