Cardinal Energy (TSE:CJ) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of Cardinal Energy (TSE:CJ – Free Report) from a hold rating to a moderate buy rating in a research note published on Wednesday, MarketBeat Ratings reports. They currently have C$15.00 price target on the stock, up from their previous price target of C$12.00.

Separately, Royal Bank Of Canada decreased their price objective on shares of Cardinal Energy from C$14.00 to C$13.50 in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$13.12.

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Cardinal Energy Stock Performance

CJ stock opened at C$12.62 on Wednesday. Cardinal Energy has a twelve month low of C$7.52 and a twelve month high of C$13.38. The firm has a market cap of C$2.22 billion, a price-to-earnings ratio of 36.06, a PEG ratio of -0.26 and a beta of 0.19. The business’s fifty day simple moving average is C$11.62 and its two-hundred day simple moving average is C$11.44. The company has a quick ratio of 0.67, a current ratio of 0.63 and a debt-to-equity ratio of 13.97.

Cardinal Energy (TSE:CJ – Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported C$0.38 earnings per share (EPS) for the quarter. The firm had revenue of C$193.44 million during the quarter. Cardinal Energy had a net margin of 10.69% and a return on equity of 6.96%. Analysts predict that Cardinal Energy will post 0.625118 earnings per share for the current year.

Cardinal Energy Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 5.7%. Cardinal Energy’s payout ratio is 205.71%.

About Cardinal Energy

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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.

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