Cardinal Energy (TSE:CJ) Reaches New 12-Month High - What's Next?

Key Points

• Cardinal Energy has reached a new 12-month high stock price of C$7.85 with a trading volume of 862,750 shares.
• The company's recent dividend announcement includes a payment of $0.06 per share on October 15th, with a noteworthy dividend yield of 960.0%.
• There has been notable insider activity, with directors acquiring a total of 30,000 shares, indicating increased confidence in the company's prospects.

Shares of Cardinal Energy Ltd. (TSE:CJ - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as C$7.85 and last traded at C$7.85, with a volume of 862750 shares. The stock had previously closed at C$7.68.

Cardinal Energy Stock Up 1.8%

The company has a debt-to-equity ratio of 8.05, a current ratio of 0.50 and a quick ratio of 0.67. The firm has a 50 day simple moving average of C$7.28 and a 200-day simple moving average of C$6.62. The stock has a market capitalization of C$1.28 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of -0.26 and a beta of 0.69.

Cardinal Energy Announces Dividend

The business also recently disclosed a sep 25 dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.06 per share. This represents a yield of 960.0%. The ex-dividend date is Monday, September 29th. Cardinal Energy's dividend payout ratio is currently 130.91%.

Insiders Place Their Bets

In related news, Director M. Scott Ratushny bought 15,000 shares of Cardinal Energy stock in a transaction on Wednesday, September 3rd. The shares were purchased at an average price of C$7.25 per share, for a total transaction of C$108,750.00. Following the completion of the acquisition, the director owned 2,988,256 shares in the company, valued at approximately C$21,664,856. This represents a 0.50% increase in their ownership of the stock. Also, Director John Albert Brussa bought 15,000 shares of Cardinal Energy stock in a transaction on Wednesday, September 3rd. The shares were bought at an average price of C$7.30 per share, for a total transaction of C$109,500.00. Following the acquisition, the director owned 653,600 shares of the company's stock, valued at approximately C$4,771,280. The trade was a 2.35% increase in their position. Over the last 90 days, insiders bought 33,500 shares of company stock valued at $244,005. 23.38% of the stock is currently owned by corporate insiders.

Cardinal Energy Company Profile

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.