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

Cardinal Energy Ltd. (TSE:CJ) declared 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 dividend on an annualized basis and a yield of 10.30%. The ex-dividend date of this dividend is Wednesday, July 31st.

Cardinal Energy Price Performance

TSE:CJ opened at C$6.99 on Tuesday. Cardinal Energy has a one year low of C$5.75 and a one year high of C$7.96. The company has a market cap of C$1.11 billion, a P/E ratio of 10.75, a P/E/G ratio of -0.26 and a beta of 2.96. The firm’s fifty day moving average price is C$6.81 and its two-hundred day moving average price is C$6.77. The company has a debt-to-equity ratio of 10.18, a current ratio of 0.62 and a quick ratio of 0.67.

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

Insider Transactions at Cardinal Energy

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

Wall Street Analysts Forecast Growth

CJ has been the subject of several recent analyst reports. CIBC upped their price objective on shares of Cardinal Energy from C$8.50 to C$8.75 in a research report on Monday, July 15th. BMO Capital Markets cut their price objective on shares of Cardinal Energy from C$8.00 to C$7.50 in a research report on Wednesday, July 3rd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Energy has an average rating of “Hold” and an average target price of C$8.45.

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.