Cardinal Energy (TSE:CJ) Shares Pass Above 50-Day Moving Average - Here's Why

Shares of Cardinal Energy Ltd. (TSE:CJ - Get Free Report) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$6.26 and traded as high as C$6.96. Cardinal Energy shares last traded at C$6.77, with a volume of 853,814 shares trading hands.

Analyst Ratings Changes

CJ has been the subject of a number of analyst reports. CIBC reduced their price objective 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 raised shares of Cardinal Energy from a "sector perform" rating to an "outperform" rating and raised their price target for the company from C$7.00 to C$7.50 in a research report on Thursday, April 17th.

Cardinal Energy Stock Performance

The business has a fifty day moving average price of C$6.26 and a 200-day moving average price of C$6.30. The stock has a market capitalization of C$1.07 billion, a P/E ratio of 10.37, a P/E/G ratio of -0.26 and a beta of 2.81. The company has a quick ratio of 0.67, a current ratio of 0.50 and a debt-to-equity ratio of 8.05.

Cardinal Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 15th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, June 30th. This represents a $0.72 dividend on an annualized basis and a yield of 10.73%. Cardinal Energy's dividend payout ratio (DPR) is 111.27%.

Insider Buying and Selling

In other Cardinal Energy news, Director M. Scott Ratushny bought 10,000 shares of the business's stock in a transaction that occurred on Thursday, April 10th. The stock was bought at an average cost of C$5.00 per share, for a total transaction of C$50,000.00. Also, Director John Albert Brussa bought 30,000 shares of Cardinal Energy stock in a transaction on Monday, April 7th. The shares were acquired at an average cost of C$5.42 per share, with a total value of C$162,600.00. Over the last quarter, insiders have purchased 96,925 shares of company stock worth $560,050. 23.38% of the stock is owned by 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.