Cardinal Energy (TSE:CJ) Hits New 1-Year Low After Analyst Downgrade

Cardinal Energy Ltd. (TSE:CJ - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Thursday after CIBC lowered their price target on the stock from C$8.00 to C$7.00. The company traded as low as C$4.64 and last traded at C$5.46, with a volume of 2274412 shares trading hands. The stock had previously closed at C$4.99.

CJ has been the subject of a number of other research reports. Atb Cap Markets cut Cardinal Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 30th. BMO Capital Markets boosted their price objective on Cardinal Energy from C$7.00 to C$7.50 in a research note on Tuesday, January 14th.

Insider Activity

In related news, Director M. Scott Ratushny acquired 10,000 shares of the company's 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. Also, Director John Albert Brussa purchased 30,000 shares of the firm's stock in a transaction on Monday, April 7th. The stock was bought at an average price of C$5.42 per share, for a total transaction of C$162,600.00. Corporate insiders own 23.38% of the company's stock.

Cardinal Energy Stock Performance

The stock has a 50 day simple moving average of C$6.19 and a 200 day simple moving average of C$6.38. The company has a market cap of C$865.11 million, a price-to-earnings ratio of 8.38, a PEG ratio of -0.26 and a beta of 2.81. The company has a quick ratio of 0.67, a current ratio of 0.50 and a debt-to-equity ratio of 8.05.

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Cardinal Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a yield of 13.28%. Cardinal Energy's dividend payout ratio (DPR) is 111.27%.

About Cardinal Energy

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.