Cardinal Energy (TSE:CJ) Shares Down 3.2% - Should You Sell?

Cardinal Energy Ltd. (TSE:CJ - Get Free Report)'s stock price traded down 3.2% during mid-day trading on Wednesday . The company traded as low as C$4.64 and last traded at C$4.83. 630,293 shares changed hands during trading, a decline of 14% from the average session volume of 731,641 shares. The stock had previously closed at C$4.99.

Analyst Ratings Changes

Several brokerages have recently weighed in on CJ. CIBC decreased their price objective on Cardinal Energy from C$8.00 to C$7.00 in a report on Thursday. Atb Cap Markets downgraded Cardinal Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 30th. Finally, BMO Capital Markets upped their price objective on Cardinal Energy from C$7.00 to C$7.50 in a research note on Tuesday, January 14th.

Cardinal Energy Price Performance

The company has a current ratio of 0.50, a quick ratio of 0.67 and a debt-to-equity ratio of 8.05. The firm has a market capitalization of C$850.75 million, a price-to-earnings ratio of 8.24, a P/E/G ratio of -0.26 and a beta of 2.81. The company's 50 day moving average is C$6.21 and its 200-day moving average is C$6.39.

Cardinal Energy Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 annualized dividend and a dividend yield of 13.51%. Cardinal Energy's dividend payout ratio is currently 111.27%.

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Insider Activity at Cardinal Energy

In related news, Senior Officer Kenneth Cory Lee Younger sold 12,000 shares of Cardinal Energy stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of C$6.90, for a total transaction of C$82,800.00. Also, Director M. Scott Ratushny acquired 10,000 shares of the firm's stock in a transaction on Thursday, April 10th. The stock was purchased at an average cost of C$5.00 per share, for a total transaction of C$50,000.00. 23.38% of the stock is owned by company insiders.

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.