Cardinal Energy (TSE:CJ) Shares Cross Below 200 Day Moving Average of $6.66

Shares of Cardinal Energy Ltd. (TSE:CJ) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$6.66 and traded as low as C$6.45. Cardinal Energy shares last traded at C$6.50, with a volume of 1,048,888 shares.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CJ shares. CIBC increased their target price on Cardinal Energy from C$8.00 to C$8.50 and gave the stock a “neutral” rating in a report on Monday, April 22nd. BMO Capital Markets set a C$8.00 target price on shares of Cardinal Energy and gave the company a “market perform” rating in a research note on Monday, May 13th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$8.50.

Cardinal Energy Price Performance

The company’s 50-day simple moving average is C$6.89 and its 200-day simple moving average is C$6.66. The company has a debt-to-equity ratio of 10.18, a current ratio of 0.62 and a quick ratio of 0.67. The stock has a market capitalization of C$1.03 billion, a price-to-earnings ratio of 10.00, a P/E/G ratio of -0.26 and a beta of 2.96.

Cardinal Energy (TSE:CJ) last issued its quarterly earnings data on Thursday, May 9th. The company reported C$0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.14 by C($0.04). The company had revenue of C$140.23 million for the quarter, compared to analyst estimates of C$143.40 million. Cardinal Energy had a return on equity of 11.47% and a net margin of 21.40%. Research analysts forecast that Cardinal Energy Ltd. will post 0.6995885 earnings per share for the current fiscal year.

Cardinal Energy Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, June 27th. This represents a $0.72 annualized dividend and a dividend yield of 11.08%. Cardinal Energy’s dividend payout ratio is presently 110.77%.

Insider Transactions at Cardinal Energy

In other news, Senior Officer David Kelly sold 6,700 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of C$6.61, for a total transaction of C$44,287.00. In other news, Director John Albert Brussa acquired 27,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were acquired at an average cost of C$6.99 per share, with a total value of C$188,670.60. Also, Senior Officer David Kelly sold 6,700 shares of Cardinal Energy stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of C$6.61, for a total transaction of C$44,287.00. Insiders own 23.39% of the company’s stock.

Cardinal Energy Company Profile

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.