Shares of Cardinal Energy Ltd. (TSE:CJ – Get Free Report) 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.
Analyst Ratings Changes
A number of brokerages recently commented on CJ. Royal Bank Of Canada lifted their price target on Cardinal Energy from C$9.50 to C$11.00 and gave the stock an “outperform” rating in a report on Monday, March 16th. Raymond James Financial upgraded Cardinal Energy from a “hold” rating to a “moderate buy” rating and upped their price objective for the company from C$9.50 to C$13.00 in a research note on Monday, March 30th. Finally, BMO Capital Markets raised Cardinal Energy from a “hold” rating to an “outperform” rating and set a C$13.00 target price for the company in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$12.00.
Read Our Latest Stock Analysis on Cardinal Energy
Cardinal Energy Trading Down 2.8%
Cardinal Energy (TSE:CJ – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported C$0.06 earnings per share for the quarter. Cardinal Energy had a net margin of 2.09% and a return on equity of 1.14%. The firm had revenue of C$143.23 million during the quarter. As a group, analysts expect that Cardinal Energy Ltd. will post 0.625118 earnings per share for the current year.
Cardinal Energy Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.06 per share. This represents a c) annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend is Friday, May 29th. Cardinal Energy’s dividend payout ratio is 1,200.00%.
Insiders Place Their Bets
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 value of C$316,000.00. Following the completion of the sale, the insider directly 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. Company insiders own 23.38% of the company’s stock.
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.
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