Cardinal Energy (TSE:CJ) Stock Crosses Above 50 Day Moving Average – Here’s What Happened

Shares of Cardinal Energy Ltd. (TSE:CJ) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$5.98 and traded as high as C$6.23. Cardinal Energy shares last traded at C$6.18, with a volume of 823,697 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CJ. BMO Capital Markets boosted their target price on Cardinal Energy from C$7.00 to C$7.50 in a report on Tuesday, January 14th. CIBC decreased their price objective on shares of Cardinal Energy from C$8.00 to C$7.00 in a research note on Thursday, April 10th. Atb Cap Markets cut shares of Cardinal Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 30th. Finally, Royal Bank of Canada raised shares of Cardinal Energy from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$7.00 to C$7.50 in a research report on Thursday, April 17th.

Cardinal Energy Stock Performance

The stock has a market cap of C$986.42 million, a PE ratio of 9.55, a PEG ratio of -0.26 and a beta of 2.81. The stock has a fifty day simple moving average of C$5.98 and a two-hundred day simple moving average of C$6.29. 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 company also recently announced a monthly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 15th will be paid a $0.06 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $0.72 annualized dividend and a dividend yield of 11.65%. Cardinal Energy’s dividend payout ratio (DPR) is presently 111.27%.

Insider Buying and Selling at Cardinal Energy

In other news, Director John Albert Brussa bought 30,000 shares of Cardinal Energy stock in a transaction on Monday, April 7th. The shares were bought at an average price of C$5.42 per share, with a total value of C$162,600.00. Also, Director M. Scott Ratushny bought 10,000 shares of Cardinal Energy stock in a transaction on Thursday, April 10th. The shares were purchased at an average cost of C$5.00 per share, for a total transaction of C$50,000.00. 23.38% of the stock is currently owned by corporate 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.