Cardinal Energy (TSE:CJ) Shares Cross Below 200 Day Moving Average – Here’s Why

Cardinal Energy Ltd. (TSE:CJ)’s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$6.53 and traded as low as C$6.48. Cardinal Energy shares last traded at C$6.58, with a volume of 779,976 shares traded.

Wall Street Analyst Weigh In

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

Cardinal Energy Trading Up 1.4 %

The company has a market capitalization of C$1.05 billion, a P/E ratio of 10.17, a PEG ratio of -0.26 and a beta of 2.81. The business has a fifty day moving average of C$6.49 and a 200-day moving average of C$6.53. The company has a debt-to-equity ratio of 8.05, a quick ratio of 0.67 and a current ratio of 0.50.

Cardinal Energy Announces Dividend

The business also recently declared a monthly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th were given a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 10.94%. The ex-dividend date of this dividend was Friday, January 31st. Cardinal Energy’s payout ratio is currently 111.27%.

Insider Activity at Cardinal Energy

In other Cardinal Energy news, Director M. Scott Ratushny bought 10,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was purchased 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 the firm’s 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. 23.38% of the stock is currently owned by insiders.

About Cardinal Energy

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.