Key Points
- Insider buying: Cardinal Energy insider Heath Williamson purchased 1,000 shares on May 25 at C$12.29 each, increasing his ownership by 12.91% to 8,745 shares.
- Dividend update: The company declared a monthly dividend of C$0.06 per share, payable June 15, implying an annualized yield of 6.0%.
- Analyst sentiment: Several brokers raised their ratings and price targets, and Cardinal Energy now carries an average Buy rating with a consensus target price of C$12.00.
Cardinal Energy Ltd. (TSE:CJ - Get Free Report) insider Heath Williamson bought 1,000 shares of the company's stock in a transaction on Monday, May 25th. The shares were bought at an average price of C$12.29 per share, with a total value of C$12,290.00. Following the completion of the transaction, the insider owned 8,745 shares of the company's stock, valued at C$107,476.05. The trade was a 12.91% increase in their ownership of the stock.
Cardinal Energy Price Performance
CJ stock opened at C$12.07 on Tuesday. The firm has a 50 day simple moving average of C$11.63 and a two-hundred day simple moving average of C$9.98. The stock has a market cap of C$2.12 billion, a PE ratio of 201.17, a P/E/G ratio of -0.26 and a beta of 0.26. Cardinal Energy Ltd. has a one year low of C$6.12 and a one year high of C$13.38. The company has a debt-to-equity ratio of 18.36, a current ratio of 0.69 and a quick ratio of 0.67.
Cardinal Energy (TSE:CJ - Get Free Report) last posted its quarterly earnings data on Thursday, March 12th. The company reported C($0.18) earnings per share 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 for the quarter. On average, analysts predict that Cardinal Energy Ltd. will post 0.625118 EPS for the current fiscal year.
Cardinal Energy Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 15th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 6.0%. Cardinal Energy's dividend payout ratio (DPR) is presently 1,200.00%.
Analyst Ratings Changes
Several equities analysts have recently commented on the company. Royal Bank Of Canada increased their price objective on Cardinal Energy from C$9.50 to C$11.00 and gave the company an "outperform" rating in a research report on Monday, March 16th. Raymond James Financial upgraded 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 research report on Monday, March 30th. Canadian Imperial Bank of Commerce raised Cardinal Energy from a "hold" rating to a "strong-buy" rating and upped their target price for the stock from C$7.75 to C$11.00 in a research note on Thursday, February 5th. Finally, BMO Capital Markets upgraded shares of Cardinal Energy from a "hold" rating to an "outperform" rating and set a C$13.00 price target on the stock in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat, Cardinal Energy presently has an average rating of "Buy" and an average price target of C$12.00.
Read Our Latest Stock Analysis on Cardinal Energy
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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