Cardinal Energy (TSE:CJ) Stock Crosses Above 50-Day Moving Average - What's Next?

Shares of Cardinal Energy Ltd. (TSE:CJ - Get Free Report) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$6.45 and traded as high as C$6.93. Cardinal Energy shares last traded at C$6.86, with a volume of 375,723 shares traded.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Royal Bank Of Canada raised shares of Cardinal Energy from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from C$7.00 to C$7.50 in a research note on Thursday, April 17th. CIBC lowered their price objective on shares of Cardinal Energy from C$8.00 to C$7.00 in a research note on Thursday, April 10th.

Cardinal Energy Price Performance

The company has a debt-to-equity ratio of 8.05, a quick ratio of 0.67 and a current ratio of 0.50. The stock has a market cap of C$1.09 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of -0.26 and a beta of 2.81. The business's fifty day simple moving average is C$6.45 and its 200 day simple moving average is C$6.34.

Cardinal Energy Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 15th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.50%. Cardinal Energy's dividend payout ratio (DPR) is presently 111.27%.

Insider Buying and Selling at Cardinal Energy

In other Cardinal Energy news, Director John Festival acquired 6,925 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was acquired at an average price of C$6.13 per share, with a total value of C$42,450.25. 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.

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