Cardinal Energy Ltd. Announces Monthly Dividend of $0.06 (TSE:CJ)

Cardinal Energy Ltd. (TSE:CJ) announced a monthly dividend on Wednesday, July 31st, Zacks reports. Investors of record on Thursday, August 15th will be paid a dividend of 0.06 per share on Thursday, August 15th. This represents a $0.72 annualized dividend and a yield of 10.30%. The ex-dividend date of this dividend is Wednesday, July 31st.

Cardinal Energy Stock Down 0.3 %

Shares of CJ opened at C$6.99 on Tuesday. The business’s 50 day moving average is C$6.81 and its 200 day moving average is C$6.77. The company has a market capitalization of C$1.11 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of -0.26 and a beta of 2.96. 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 0.62, a quick ratio of 0.67 and a debt-to-equity ratio of 10.18.

Cardinal Energy (TSE:CJ) last released its quarterly earnings data on Thursday, May 9th. The company reported C$0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.14 by C($0.04). Cardinal Energy had a return on equity of 11.47% and a net margin of 21.40%. The firm had revenue of C$140.23 million during the quarter, compared to the consensus estimate of C$143.40 million. Research analysts expect that Cardinal Energy will post 0.6995885 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CJ has been the topic of a number of research reports. CIBC lifted their price objective on Cardinal Energy from C$8.50 to C$8.75 in a research note on Monday, July 15th. BMO Capital Markets cut their target price on Cardinal Energy from C$8.00 to C$7.50 in a research report on Wednesday, July 3rd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Cardinal Energy currently has an average rating of “Hold” and an average target price of C$8.45.

Insider Activity

In related news, Senior Officer David Kelly sold 6,700 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of C$6.61, for a total transaction of C$44,287.00. Corporate insiders own 23.39% of the company’s stock.

Cardinal Energy Company Profile

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.