Cardinal Energy (TSE:CJ) Shares Cross Above 50-Day Moving Average – Here’s Why

by · The Markets Daily

Cardinal Energy Ltd. (TSE:CJ – Get Free Report)’s stock price passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of C$11.94 and traded as high as C$13.14. Cardinal Energy shares last traded at C$13.13, with a volume of 1,228,427 shares.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Royal Bank Of Canada reduced their target price on shares of Cardinal Energy from C$14.00 to C$13.50 in a report on Wednesday, July 15th. Raymond James Financial raised shares of Cardinal Energy from a “hold” rating to a “moderate buy” rating and upped their price target for the company from C$12.00 to C$15.00 in a report on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$13.12.

Check Out Our Latest Stock Report on CJ

Cardinal Energy Stock Performance

The firm’s fifty day moving average price is C$11.94 and its two-hundred day moving average price is C$11.63. The stock has a market capitalization of C$2.31 billion, a PE ratio of 37.51, a price-to-earnings-growth ratio of -0.26 and a beta of 0.24. The company has a current ratio of 0.63, a quick ratio of 0.67 and a debt-to-equity ratio of 13.97.

Cardinal Energy (TSE:CJ – Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported C$0.38 EPS for the quarter. Cardinal Energy had a net margin of 10.69% and a return on equity of 6.96%. The company had revenue of C$193.44 million for the quarter. As a group, equities research analysts forecast that Cardinal Energy Ltd. will post 0.63 EPS for the current year.

Cardinal Energy Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 17th were paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend was Friday, July 31st. Cardinal Energy’s dividend payout ratio is presently 205.71%.

About Cardinal Energy

(Get Free Report)

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.

Recommended Stories