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

Cardinal Energy Ltd. (TSE:CJ – Get Rating) declared a monthly dividend on Thursday, March 16th, Zacks reports. Investors of record on Friday, March 31st will be given a dividend of 0.06 per share on Friday, April 14th. This represents a $0.72 annualized dividend and a dividend yield of 10.88%. The ex-dividend date of this dividend is Thursday, March 30th.

Cardinal Energy Stock Down 3.8 %

Shares of TSE CJ opened at C$6.62 on Friday. The stock has a fifty day moving average price of C$7.34 and a 200 day moving average price of C$7.81. The company has a market cap of C$1.03 billion, a P/E ratio of 4.76, a P/E/G ratio of -0.26 and a beta of 3.19. Cardinal Energy has a 12-month low of C$6.26 and a 12-month high of C$9.96. The company has a current ratio of 0.76, a quick ratio of 0.67 and a debt-to-equity ratio of 5.31.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Stifel Nicolaus reduced their price objective on shares of Cardinal Energy from C$13.50 to C$11.00 in a research note on Monday, January 16th. Raymond James reduced their price objective on shares of Cardinal Energy from C$10.00 to C$9.00 and set a “market perform” rating on the stock in a research note on Monday, January 16th. BMO Capital Markets reduced their price objective on shares of Cardinal Energy from C$12.00 to C$11.00 in a research note on Tuesday, December 13th. Finally, CIBC dropped their target price on shares of Cardinal Energy from C$11.00 to C$9.00 in a report on Tuesday, January 17th.

About Cardinal Energy

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Cardinal Energy Ltd. engages in the acquisition, exploration, and production of crude oil and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. It has total proved plus probable oil and gas reserves of 110,391 thousand barrels of oil equivalent. Cardinal Energy Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.