Stifel Nicolaus Raises Cardinal Energy (TSE:CJ) Price Target to C$13.00

Cardinal Energy (TSE:CJGet Rating) had its price objective hoisted by Stifel Nicolaus from C$12.25 to C$13.00 in a research report released on Tuesday morning, BayStreet.CA reports.

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

Cardinal Energy Price Performance

TSE CJ opened at C$8.51 on Tuesday. The company has a 50-day moving average price of C$8.07 and a two-hundred day moving average price of C$7.32. Cardinal Energy has a 52 week low of C$2.82 and a 52 week high of C$9.73. The stock has a market cap of C$1.33 billion and a price-to-earnings ratio of 2.88. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 8.17.

Cardinal Energy (TSE:CJGet Rating) last posted its 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 business had revenue of C$174.34 million during the quarter. Analysts forecast that Cardinal Energy will post 1.35 EPS for the current year.

Cardinal Energy Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 15th. Shareholders of record on Monday, August 15th will be given a $0.05 dividend. This is a positive change from Cardinal Energy’s previous monthly dividend of $0.02. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $0.60 annualized dividend and a yield of 7.05%. Cardinal Energy’s payout ratio is 1.69%.

Insider Activity

In related news, Director John Albert Brussa purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The stock was acquired at an average price of C$8.76 per share, for a total transaction of C$87,600.00. Following the transaction, the director now directly owns 3,536,354 shares of the company’s stock, valued at approximately C$30,978,461.04. In the last 90 days, insiders purchased 70,000 shares of company stock worth $579,100.

Cardinal Energy Company Profile

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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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