Cardinal Energy (TSE:CJ) Stock Passes Above Fifty Day Moving Average – Time to Sell?

Shares of Cardinal Energy Ltd. (TSE:CJ) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$7.66 and traded as high as C$8.01. Cardinal Energy shares last traded at C$8.00, with a volume of 805,433 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CJ shares. Raymond James Financial raised Cardinal Energy to a “hold” rating in a research note on Monday, September 22nd. CIBC boosted their price target on Cardinal Energy from C$7.00 to C$8.25 in a research report on Wednesday, October 15th. Finally, Royal Bank Of Canada boosted their price target on Cardinal Energy from C$8.00 to C$8.50 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$8.08.

Cardinal Energy Price Performance

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 stock has a market capitalization of C$1.28 billion, a PE ratio of 14.55, a PEG ratio of -0.26 and a beta of 0.56. The company has a 50-day moving average of C$7.66 and a 200 day moving average of C$6.93.

Cardinal Energy Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 17th will be issued a $0.06 dividend. This represents a c) annualized dividend and a yield of 9.0%. The ex-dividend date is Friday, October 31st. Cardinal Energy’s dividend payout ratio is presently 130.91%.

Insider Buying and Selling at Cardinal Energy

In other news, Director M. Scott Ratushny purchased 15,000 shares of Cardinal Energy stock in a transaction dated Wednesday, September 3rd. The shares were purchased at an average price of C$7.25 per share, with a total value of C$108,750.00. Following the transaction, the director owned 2,988,256 shares in the company, valued at C$21,664,856. This represents a 0.50% increase in their ownership of the stock. Also, Director John Albert Brussa purchased 15,000 shares of Cardinal Energy stock in a transaction dated Wednesday, September 3rd. The shares were purchased at an average cost of C$7.30 per share, for a total transaction of C$109,500.00. Following the transaction, the director owned 653,600 shares in the company, valued at approximately C$4,771,280. This trade represents a 2.35% increase in their position. Over the last 90 days, insiders acquired 33,500 shares of company stock valued at $244,005. 23.38% of the stock is owned by company insiders.

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.