Cardinal Energy (TSE:CJ) Shares Cross Below 200-Day Moving Average of $6.82

Cardinal Energy Ltd. (TSE:CJ - Get Free Report)'s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$6.82 and traded as low as C$6.78. Cardinal Energy shares last traded at C$6.83, with a volume of 511,127 shares.

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Analyst Ratings Changes

A number of brokerages have recently issued reports on CJ. CIBC raised their price objective on Cardinal Energy from C$8.50 to C$8.75 in a research report on Monday, July 15th. BMO Capital Markets dropped their price target 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 given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of C$8.45.

Get Our Latest Analysis on CJ

Cardinal Energy Price Performance

The stock has a market capitalization of C$1.09 billion, a P/E ratio of 9.40, a price-to-earnings-growth ratio of -0.26 and a beta of 2.85. The business's 50 day simple moving average is C$6.81 and its two-hundred day simple moving average is C$6.82. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 9.04.

Cardinal Energy Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 10.50%. The ex-dividend date of this dividend is Friday, August 30th. Cardinal Energy's dividend payout ratio is 98.63%.

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Insider Buying and Selling at Cardinal Energy

In other news, Senior Officer David Kelly sold 6,700 shares of the company's stock in a transaction dated Friday, June 14th. The stock was sold at an average price of C$6.61, for a total transaction of C$44,287.00. Company insiders own 23.37% of the company's stock.

Cardinal Energy Company Profile

(Get Free Report)

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.

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