Key Points
- Insider sale: Cardinal Energy insider Kenneth Cory Lee Younger sold 25,000 shares on May 15 for about C$316,000, trimming his holdings by 16.2%.
- Dividend and earnings: The company declared a monthly dividend of C$0.06 per share, implying a 5.5% annualized yield, while its latest quarterly EPS came in at loss of C$0.18 on revenue of C$109.19 million.
- Analyst sentiment: Several brokerages recently upgraded Cardinal Energy, and MarketBeat reports an overall Buy rating with an average price target of C$12.00.
Cardinal Energy Ltd. (TSE:CJ - Get Free Report) insider Kenneth Cory Lee Younger sold 25,000 shares of Cardinal Energy stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of C$12.64, for a total value of C$316,000.00. Following the completion of the sale, the insider directly owned 129,338 shares in the company, valued at approximately C$1,634,832.32. This represents a 16.20% decrease in their position.
Cardinal Energy Stock Up 1.9%
TSE:CJ opened at C$13.13 on Wednesday. Cardinal Energy Ltd. has a twelve month low of C$6.07 and a twelve month high of C$13.38. The firm has a market capitalization of C$2.30 billion, a price-to-earnings ratio of 218.83, a price-to-earnings-growth ratio of -0.26 and a beta of 0.26. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 18.36. The stock's 50 day moving average price is C$11.45 and its two-hundred day moving average price is C$9.85.
Cardinal Energy (TSE:CJ - Get Free Report) last released its quarterly earnings data on Thursday, March 12th. The company reported C($0.18) EPS for the quarter. Cardinal Energy had a net margin of 2.09% and a return on equity of 1.14%. The company had revenue of C$109.19 million during the quarter. Equities research analysts expect that Cardinal Energy Ltd. will post 0.625118 earnings per share for the current fiscal year.
Cardinal Energy Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 15th will be issued a dividend of $0.06 per share. This represents a c) dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Friday, May 29th. Cardinal Energy's payout ratio is presently 1,200.00%.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on CJ shares. Canadian Imperial Bank of Commerce upgraded shares of Cardinal Energy from a "hold" rating to a "strong-buy" rating and boosted their target price for the stock from C$7.75 to C$11.00 in a report on Thursday, February 5th. Raymond James Financial upgraded shares of Cardinal Energy from a "hold" rating to a "moderate buy" rating and boosted their target price for the stock from C$9.50 to C$13.00 in a report on Monday, March 30th. BMO Capital Markets upgraded shares of Cardinal Energy from a "hold" rating to an "outperform" rating and set a C$13.00 target price on the stock in a report on Tuesday, April 7th. Finally, Royal Bank Of Canada boosted their target price on shares of Cardinal Energy from C$9.50 to C$11.00 and gave the stock an "outperform" rating in a report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of C$12.00.
Get Our Latest Stock Report on CJ
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.
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