Cardinal Energy (TSE:CJ) Share Price Passes Below 200 Day Moving Average of $6.84

Cardinal Energy Ltd. (TSE:CJ)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$6.84 and traded as low as C$6.40. Cardinal Energy shares last traded at C$6.46, with a volume of 686,682 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CJ shares. BMO Capital Markets cut their price target on shares of Cardinal Energy from C$8.00 to C$7.50 in a report on Wednesday, July 3rd. Royal Bank of Canada cut their price target on shares of Cardinal Energy from C$8.00 to C$7.00 in a report on Tuesday, September 17th. Finally, CIBC lifted their price target on shares of Cardinal Energy from C$8.50 to C$8.75 in a research note on Monday, July 15th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$8.05.

Cardinal Energy Stock Performance

The business has a fifty day simple moving average of C$6.76 and a two-hundred day simple moving average of C$6.84. The company has a debt-to-equity ratio of 9.04, a current ratio of 0.73 and a quick ratio of 0.67. The company has a market cap of C$1.03 billion, a PE ratio of 8.85, a price-to-earnings-growth ratio of -0.26 and a beta of 2.84.

Cardinal Energy (TSE:CJ) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.25 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.33 by C($0.08). Cardinal Energy had a return on equity of 12.73% and a net margin of 22.78%. The business had revenue of C$169.35 million during the quarter, compared to analyst estimates of C$164.70 million. Research analysts anticipate that Cardinal Energy Ltd. will post 0.8847737 earnings per share for the current year.

Cardinal Energy Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.15%. Cardinal Energy’s payout ratio is currently 98.63%.

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.