Cardinal Energy (TSE:CJ) PT Lowered to C$7.00 at Royal Bank of Canada

Cardinal Energy (TSE:CJ) had its price objective lowered by Royal Bank of Canada from C$8.00 to C$7.00 in a research report report published on Tuesday morning, BayStreet.CA reports.

CJ has been the topic of a number of other research reports. BMO Capital Markets lowered their target price on Cardinal Energy from C$8.00 to C$7.50 in a report on Wednesday, July 3rd. CIBC increased their target price on Cardinal Energy from C$8.50 to C$8.75 in a report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of C$8.05.

Cardinal Energy Stock Performance

Shares of CJ stock opened at C$6.45 on Tuesday. The company has a market cap of C$1.03 billion, a price-to-earnings ratio of 8.84, a price-to-earnings-growth ratio of -0.26 and a beta of 2.84. The stock has a 50 day simple moving average of C$6.78 and a 200-day simple moving average of C$6.84. Cardinal Energy has a 12-month low of C$5.75 and a 12-month high of C$7.96. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 9.04.

Cardinal Energy (TSE:CJ) last released its quarterly earnings data on Thursday, August 1st. The company reported C$0.25 earnings per share for the quarter, missing the consensus estimate of C$0.33 by C($0.08). Cardinal Energy had a net margin of 22.78% and a return on equity of 12.73%. The firm had revenue of C$169.35 million during the quarter, compared to analysts’ expectations of C$164.70 million. On average, equities analysts forecast that Cardinal Energy will post 0.8847737 EPS for the current year.

Cardinal Energy Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 11.16%. The ex-dividend date is Monday, September 30th. Cardinal Energy’s dividend payout ratio is presently 98.63%.

About Cardinal Energy

Cardinal Energy Ltd. engages in the acquisition, development, optimization, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Cardinal Energy Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.