Cardinal Energy (TSE:CJ) Stock Price Down 8.6% - Here's Why

Cardinal Energy Ltd. (TSE:CJ - Get Free Report)'s stock price fell 8.6% during trading on Monday . The company traded as low as C$5.19 and last traded at C$5.23. 1,780,960 shares changed hands during trading, an increase of 164% from the average session volume of 674,397 shares. The stock had previously closed at C$5.72.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. CIBC reduced their price target on shares of Cardinal Energy from C$8.00 to C$7.00 in a research note on Thursday. Atb Cap Markets downgraded shares of Cardinal Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 30th. Finally, BMO Capital Markets increased their price target on Cardinal Energy from C$7.00 to C$7.50 in a report on Tuesday, January 14th.

Cardinal Energy Trading Up 4.4 %

The company has a quick ratio of 0.67, a current ratio of 0.50 and a debt-to-equity ratio of 8.05. The firm has a market capitalization of C$834.79 million, a PE ratio of 8.08, a PEG ratio of -0.26 and a beta of 2.81. The stock's fifty day simple moving average is C$6.21 and its 200 day simple moving average is C$6.39.

Cardinal Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be paid a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 13.77%. The ex-dividend date is Monday, March 31st. Cardinal Energy's dividend payout ratio (DPR) is currently 111.27%.

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Insider Activity

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 stock was acquired at an average price of C$5.42 per share, for a total transaction of C$162,600.00. Also, Senior Officer Kenneth Cory Lee Younger sold 12,000 shares of the firm's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of C$6.90, for a total value of C$82,800.00. Insiders own 23.38% of the company's stock.

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.