Cardinal Energy (TSE:CJ) Price Target Increased to C$13.00 by Analysts at Stifel Nicolaus

Cardinal Energy (TSE:CJ – Get Rating) had its price target upped by Stifel Nicolaus from C$12.25 to C$13.00 in a research report report published on Tuesday morning, BayStreet.CA reports.

CJ has been the subject of a number of other reports. Raymond James upped their price objective on shares of Cardinal Energy from C$9.50 to C$10.00 and gave the stock an outperform rating in a report on Tuesday. CIBC set a C$10.00 target price on shares of Cardinal Energy and gave the company a neutral rating in a research note on Monday, June 27th.

Cardinal Energy Stock Performance

CJ stock opened at C$9.21 on Tuesday. The stock has a market cap of C$1.44 billion and a P/E ratio of 3.11. The company has a debt-to-equity ratio of 8.17, a quick ratio of 0.99 and a current ratio of 1.00. The firm has a 50 day simple moving average of C$8.11 and a 200 day simple moving average of C$7.27. Cardinal Energy has a 52 week low of C$2.82 and a 52 week high of C$9.73.

Cardinal Energy (TSE:CJ – Get Rating) last posted its quarterly earnings results on Thursday, May 12th. The company reported C$0.35 EPS for the quarter, beating the consensus estimate of C$0.29 by C$0.06. The company had revenue of C$174.34 million for the quarter. Research analysts anticipate that Cardinal Energy will post 1.35 earnings per share for the current fiscal year.

Cardinal Energy Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, August 15th will be given a $0.05 dividend. This represents a $0.60 annualized dividend and a dividend yield of 6.51%. This is a boost from Cardinal Energy’s previous monthly dividend of $0.02. The ex-dividend date is Thursday, July 28th. Cardinal Energy’s dividend payout ratio is currently 1.69%.

Insider Activity at Cardinal Energy

In related news, Director John Albert Brussa acquired 10,000 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were bought at an average price of C$8.76 per share, for a total transaction of C$87,600.00. Following the acquisition, the director now owns 3,536,354 shares in the company, valued at approximately C$30,978,461.04. Insiders purchased a total of 70,000 shares of company stock worth $579,100 in the last ninety days.

About Cardinal Energy

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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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