Cardinal Energy (TSE:CJ) Reaches New 12-Month High – Time to Buy?

Shares of Cardinal Energy Ltd. (TSE:CJ) hit a new 52-week high during trading on Tuesday . The company traded as high as C$9.04 and last traded at C$9.03, with a volume of 726965 shares. The stock had previously closed at C$8.77.

Analysts Set New Price Targets

CJ has been the topic of a number of analyst reports. Royal Bank Of Canada lifted their target price on Cardinal Energy from C$8.00 to C$8.50 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. CIBC lifted their target price on Cardinal Energy from C$7.00 to C$8.25 in a research report on Wednesday, October 15th. Finally, Raymond James Financial upgraded Cardinal Energy to a “hold” rating in a research note on Monday, September 22nd. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$8.08.

Cardinal Energy Price Performance

The company has a debt-to-equity ratio of 8.05, a current ratio of 0.50 and a quick ratio of 0.67. The company has a market cap of C$1.46 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of -0.26 and a beta of 0.29. The stock has a fifty day moving average price of C$7.96 and a 200-day moving average price of C$7.20.

Cardinal Energy (TSE:CJ) last announced its quarterly earnings data on Thursday, November 6th. The company reported C$0.09 EPS for the quarter. The firm had revenue of C$104.82 million during the quarter. Cardinal Energy had a return on equity of 11.24% and a net margin of 19.57%. On average, equities analysts expect that Cardinal Energy Ltd. will post 0.625118 earnings per share for the current year.

Cardinal Energy Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 17th were given a $0.06 dividend. The ex-dividend date was Friday, October 31st. This represents a c) dividend on an annualized basis and a yield of 7.9%. Cardinal Energy’s dividend payout ratio is presently 150.00%.

Insider Buying and Selling at Cardinal Energy

In other Cardinal Energy news, Director M. Scott Ratushny bought 15,000 shares of Cardinal Energy stock in a transaction on Wednesday, September 3rd. The stock was purchased at an average cost of C$7.25 per share, for a total transaction of C$108,750.00. Following the completion of the purchase, the director directly owned 2,988,256 shares of the company’s stock, valued at C$21,664,856. The trade was a 0.50% increase in their ownership of the stock. Also, insider David Kelly sold 41,430 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of C$7.91, for a total transaction of C$327,711.30. Following the transaction, the insider owned 122,624 shares in the company, valued at C$969,955.84. This represents a 25.25% decrease in their position. Insiders purchased 33,500 shares of company stock valued at $244,005 in the last quarter. Company insiders own 23.38% of the company’s stock.

About Cardinal Energy

Cardinal Energy Ltd is an oil-focused Canadian company. The company’s principal business activity is the acquisition, exploration, and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan.