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

Cardinal Energy Ltd. (TSE:CJ - Get Free Report)'s stock price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$6.61 and traded as high as C$7.15. Cardinal Energy shares last traded at C$7.06, with a volume of 662,432 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. CIBC lowered their target price on shares of Cardinal Energy from C$8.00 to C$7.00 in a research note on Thursday, April 10th. Royal Bank Of Canada upgraded shares of Cardinal Energy from a "sector perform" rating to an "outperform" rating and upped their target price for the stock from C$7.00 to C$7.50 in a research report on Thursday, April 17th.

Cardinal Energy Trading Up 0.3%

The business's 50 day moving average price is C$6.61 and its 200-day moving average price is C$6.36. 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 company has a market cap of C$1.13 billion, a price-to-earnings 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 will be paid on Friday, August 15th. Shareholders of record on Friday, August 15th will be issued a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 10.20%. The ex-dividend date is Thursday, July 31st. Cardinal Energy's dividend payout ratio is currently 111.27%.

Insider Activity

In other Cardinal Energy news, Director John Festival bought 6,925 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were acquired at an average cost of C$6.13 per share, for a total transaction of C$42,450.25. Company insiders own 23.38% of the company's stock.

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.