Cardinal Energy (TSE:CJ) Stock Price Passes Above Fifty Day Moving Average – Here’s What Happened

Cardinal Energy Ltd. (TSE:CJ) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$11.89 and traded as high as C$11.92. Cardinal Energy shares last traded at C$11.60, with a volume of 1,466,791 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Raymond James Financial upgraded Cardinal Energy from a “hold” rating to a “moderate buy” rating and raised their target price for the company from C$9.50 to C$13.00 in a research report on Monday, March 30th. BMO Capital Markets raised Cardinal Energy from a “hold” rating to an “outperform” rating and set a C$13.00 price target for the company in a report on Tuesday, April 7th. Finally, Royal Bank Of Canada increased their price target on Cardinal Energy from C$9.50 to C$11.00 and gave the company an “outperform” rating in a report on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$12.00.

Cardinal Energy Stock Performance

The firm has a 50 day simple moving average of C$11.89 and a 200-day simple moving average of C$10.28. The company has a debt-to-equity ratio of 18.36, a current ratio of 0.69 and a quick ratio of 0.67. The company has a market cap of C$2.03 billion, a price-to-earnings ratio of 193.33, a PEG ratio of -0.26 and a beta of 0.17.

Cardinal Energy (TSE:CJ) last posted its earnings results on Thursday, May 7th. The company reported C$0.06 earnings per share (EPS) for the quarter. The company had revenue of C$143.23 million during the quarter. Cardinal Energy had a return on equity of 1.14% and a net margin of 2.09%. As a group, analysts predict that Cardinal Energy Ltd. will post 0.625118 EPS for the current fiscal year.

Cardinal Energy Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) annualized dividend and a yield of 6.2%. Cardinal Energy’s dividend payout ratio (DPR) is 1,200.00%.

Insider Transactions at Cardinal Energy

In other Cardinal Energy news, insider Kenneth Cory Lee Younger sold 25,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of C$12.64, for a total transaction of C$316,000.00. Following the completion of the sale, the insider owned 129,338 shares of the company’s stock, valued at C$1,634,832.32. This trade represents a 16.20% decrease in their ownership of the stock. 23.38% of the stock is currently owned by company insiders.

Cardinal Energy Company Profile

Cardinal is a Canadian oil and natural gas production company with operations focused on low decline sustainable oil production in Western Canada. Cardinal has recently completed its first thermal SAGD project in Reford, Saskatchewan and has transitioned to the production phase of operations. The Company’s portfolio of conventional and SAGD project inventory offers a complimentary low decline, long life resource base that is ideally suited to sustain our commitment to meaningful dividend returns to shareholders.