Cardinal Energy (TSE:CJ) Upgraded to “Outperform” at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Cardinal Energy (TSE:CJ) from a sector perform rating to an outperform rating in a research note released on Thursday,BayStreet.CA reports. They currently have C$7.50 price target on the stock, up from their prior price target of C$7.00.

A number of other equities research analysts have also weighed in on the company. Atb Cap Markets lowered Cardinal Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 30th. CIBC reduced their price target on Cardinal Energy from C$8.00 to C$7.00 in a report on Thursday, April 10th. Finally, BMO Capital Markets raised their price objective on shares of Cardinal Energy from C$7.00 to C$7.50 in a report on Tuesday, January 14th.

Cardinal Energy Stock Performance

Shares of Cardinal Energy stock opened at C$6.11 on Thursday. The company’s 50 day moving average price is C$6.15 and its two-hundred day moving average price is C$6.37. The firm has a market capitalization of C$975.25 million, a P/E ratio of 9.44, a P/E/G ratio of -0.26 and a beta of 2.81. Cardinal Energy has a fifty-two week low of C$4.64 and a fifty-two week high of C$7.38. The company has a debt-to-equity ratio of 8.05, a current ratio of 0.50 and a quick ratio of 0.67.

Cardinal Energy Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 15th will be issued a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 11.78%. The ex-dividend date of this dividend is Wednesday, April 30th. Cardinal Energy’s payout ratio is presently 111.27%.

Insiders Place Their Bets

In other Cardinal Energy news, Director John Albert Brussa purchased 30,000 shares of the business’s stock in a transaction on Monday, April 7th. The shares were purchased at an average cost of C$5.42 per share, for a total transaction of C$162,600.00. Also, Director M. Scott Ratushny acquired 10,000 shares of the stock in a transaction dated Thursday, April 10th. The stock was bought at an average price of C$5.00 per share, with a total value of C$50,000.00. Company insiders own 23.38% of the company’s stock.

Cardinal Energy Company Profile

Cardinal Energy Ltd is an oil-focused Canadian company. The company’s principal business activity is the acquisition, exploration, and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan.