Cardinal Energy (TSE:CJ) Stock Price Down 4.4% – Here’s Why

Cardinal Energy Ltd. (TSE:CJ) shares traded down 4.4% on Wednesday . The stock traded as low as C$4.64 and last traded at C$4.77. 705,623 shares traded hands during trading, a decline of 4% from the average session volume of 734,257 shares. The stock had previously closed at C$4.99.

Analysts Set New Price Targets

A number of research firms have recently commented on CJ. 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. 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 current ratio of 0.50, a quick ratio of 0.67 and a debt-to-equity ratio of 8.05. The stock has a market cap of C$871.50 million, a PE ratio of 8.44, a P/E/G ratio of -0.26 and a beta of 2.81. The business’s 50-day moving average price is C$6.29 and its 200-day moving average price is C$6.42.

Cardinal Energy Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be issued a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 13.19%. The ex-dividend date is Monday, March 31st. Cardinal Energy’s dividend payout ratio is presently 111.27%.

Insider Buying and Selling

In other news, Senior Officer Kenneth Cory Lee Younger sold 12,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of C$6.90, for a total value of C$82,800.00. Also, Director John Albert Brussa bought 30,000 shares of Cardinal Energy stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average cost of C$5.42 per share, with a total value of C$162,600.00. 23.38% of the stock is owned by company insiders.

Cardinal Energy Company Profile

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.