Cardinal Energy (TSE:CJ) Stock Crosses Above 50 Day Moving Average - Should You Sell?

Key Points

• Cardinal Energy's stock has recently surpassed its 50-day moving average of C$6.92, trading as high as C$7.14, with the last price noted at C$7.13.
• Royal Bank of Canada has upgraded Cardinal Energy's rating from "sector perform" to "outperform" and increased the price target from C$7.00 to C$7.50.
• The company announced a monthly dividend of $0.06 per share, translating to a yield of 10.1%, with a payout ratio of 111.27%.

Cardinal Energy Ltd. (TSE:CJ - Get Free Report)'s share price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$6.92 and traded as high as C$7.14. Cardinal Energy shares last traded at C$7.13, with a volume of 718,584 shares.

Cardinal Energy Stock Performance

The company's 50-day simple moving average is C$6.98 and its 200 day simple moving average is C$6.43. The company has a current ratio of 0.50, a quick ratio of 0.67 and a debt-to-equity ratio of 8.05. The stock has a market cap of C$1.13 billion, a P/E ratio of 10.91, a PEG ratio of -0.26 and a beta of 2.81.

Cardinal Energy Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 15th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a c) annualized dividend and a dividend yield of 10.2%. Cardinal Energy's dividend payout ratio (DPR) is currently 111.27%.

Insider Activity at Cardinal Energy

In related news, Director John Festival purchased 6,925 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was bought at an average price of C$6.13 per share, for a total transaction of C$42,450.25. 23.38% of the stock is currently owned by corporate insiders.

About Cardinal Energy

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.