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

Shares of Cardinal Energy Ltd. (TSE:CJ) reached a new 52-week low on Thursday after CIBC lowered their price target on the stock from C$8.00 to C$7.00. The stock traded as low as C$4.64 and last traded at C$5.46, with a volume of 2274412 shares traded. The stock had previously closed at C$4.99.

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

Insider Transactions at Cardinal Energy

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

Cardinal Energy Price Performance

The firm has a market capitalization of C$834.79 million, a P/E ratio of 8.08, 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. The business’s 50 day moving average is C$6.21 and its 200-day moving average is C$6.39.

Cardinal Energy Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.06 per share. The ex-dividend date is Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 13.77%. Cardinal Energy’s dividend payout ratio (DPR) is currently 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.