Cardinal Energy (TSE:CJ) Stock Passes Below 200 Day Moving Average – Should You Sell?

Shares of Cardinal Energy Ltd. (TSE:CJ) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$6.60 and traded as low as C$6.41. Cardinal Energy shares last traded at C$6.46, with a volume of 724,849 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CJ shares. BMO Capital Markets increased their price objective on shares of Cardinal Energy from C$7.00 to C$7.50 in a report on Tuesday, January 14th. CIBC reduced their price target on shares of Cardinal Energy from C$8.75 to C$8.00 in a research report on Friday, November 8th.

Cardinal Energy Stock Performance

The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 9.04. The stock has a market capitalization of C$1.03 billion, a price-to-earnings ratio of 8.85, a price-to-earnings-growth ratio of -0.26 and a beta of 2.81. The firm’s fifty day moving average price is C$6.52 and its 200 day moving average price is C$6.60.

Cardinal Energy (TSE:CJ) last announced its quarterly earnings data on Thursday, November 7th. The company reported C$0.16 EPS for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.08). Cardinal Energy had a return on equity of 12.73% and a net margin of 22.78%. Analysts forecast that Cardinal Energy Ltd. will post 0.625118 EPS for the current fiscal year.

Cardinal Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th will be issued a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 11.15%. The ex-dividend date is Friday, January 31st. Cardinal Energy’s payout ratio is currently 98.63%.

Insider Buying and Selling at Cardinal Energy

In other Cardinal Energy news, Director John Festival acquired 75,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average price of C$6.20 per share, with a total value of C$465,000.00. Also, Director M. Scott Ratushny acquired 10,000 shares of Cardinal Energy stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average price of C$6.12 per share, with a total value of C$61,160.00. Insiders purchased a total of 137,650 shares of company stock valued at $852,718 in the last ninety days. Insiders own 23.38% of the company’s stock.

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.