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

Key Points

• Cardinal Energy shares crossed above their 50-day moving average of C$7.49, reaching a high of C$8.50 during recent trading.
• Analysts have rated the stock with a consensus of "Hold" and a price target of C$7.67, while Royal Bank of Canada upgraded it to "Outperform" with a target of C$8.50.
• The company recently announced a dividend of $0.06 per share, offering an impressive yield of 960.0%, although its payout ratio stands at 130.91%.

Cardinal Energy Ltd. (TSE:CJ - Get Free Report) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$7.49 and traded as high as C$8.50. Cardinal Energy shares last traded at C$8.19, with a volume of 998,263 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Raymond James Financial upgraded shares of Cardinal Energy to a "hold" rating in a research note on Monday, September 22nd. Royal Bank Of Canada lifted their target price on shares of Cardinal Energy from C$8.00 to C$8.50 and gave the stock an "outperform" rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of C$7.67.

Cardinal Energy Trading Down 3.3%

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 company has a market cap of C$1.32 billion, a price-to-earnings ratio of 14.89, a PEG ratio of -0.26 and a beta of 0.56. The business's 50-day simple moving average is C$7.49 and its 200-day simple moving average is C$6.76.

Cardinal Energy Announces Dividend

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

Insider Buying and Selling

In other news, Director John Albert Brussa acquired 15,000 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was acquired at an average price of C$7.30 per share, with a total value of C$109,500.00. Following the completion of the transaction, the director directly owned 653,600 shares in the company, valued at approximately C$4,771,280. This represents a 2.35% increase in their position. Also, Director M. Scott Ratushny acquired 15,000 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was purchased at an average cost of C$7.25 per share, with a total value of C$108,750.00. Following the transaction, the director owned 2,988,256 shares of the company's stock, valued at approximately C$21,664,856. The trade was a 0.50% increase in their ownership of the stock. In the last three months, insiders bought 33,500 shares of company stock valued at $244,005. Company insiders own 23.38% of the company's stock.

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.

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