Cardinal Energy (TSE:CJ) Stock Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Cardinal Energy Ltd. (TSE:CJ) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$6.58 and traded as low as C$6.25. Cardinal Energy shares last traded at C$6.30, with a volume of 623,102 shares traded.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CJ shares. BMO Capital Markets increased their target price on Cardinal Energy from C$7.00 to C$7.50 in a research report on Tuesday, January 14th. CIBC reduced their price objective on shares of Cardinal Energy from C$8.75 to C$8.00 in a research report on Friday, November 8th. Finally, Atb Cap Markets lowered shares of Cardinal Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 30th.

Cardinal Energy Stock Performance

The company has a market capitalization of C$1.01 billion, a P/E ratio of 8.70, a price-to-earnings-growth ratio of -0.26 and a beta of 2.81. The business has a 50 day moving average of C$6.48 and a 200 day moving average of C$6.57. 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 (TSE:CJ) last released its quarterly earnings data on Thursday, November 7th. The company reported C$0.16 EPS for the quarter, missing the consensus estimate of C$0.24 by C($0.08). Cardinal Energy had a net margin of 22.78% and a return on equity of 12.73%. On average, sell-side analysts predict that Cardinal Energy Ltd. will post 0.625118 earnings per share for the current year.

Cardinal Energy Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, January 31st. This represents a $0.72 annualized dividend and a yield of 11.34%. Cardinal Energy’s payout ratio is currently 98.63%.

Insider Transactions at Cardinal Energy

In other Cardinal Energy news, Director M. Scott Ratushny acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average cost of C$6.12 per share, with a total value of C$61,160.00. Also, Senior Officer Kenneth Cory Lee Younger sold 12,000 shares of Cardinal Energy 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. In the last 90 days, insiders purchased 137,650 shares of company stock worth $852,718. 23.38% of the stock is currently owned by company insiders.

Cardinal Energy Company Profile

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.