Cardinal Energy (TSE:CJ) Shares Cross Above 50 Day Moving Average - Here's What Happened

Shares of Cardinal Energy Ltd. (TSE:CJ - Get Free Report) passed 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

A number of research analysts have weighed in on CJ shares. CIBC decreased their price objective on Cardinal Energy from C$8.00 to C$7.00 in a report on Thursday, April 10th. Royal Bank Of Canada upgraded Cardinal Energy from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from C$7.00 to C$7.50 in a report on Thursday, April 17th.

Cardinal Energy Stock Performance

The firm has a market cap of C$1.09 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of -0.26 and a beta of 2.81. The firm has a fifty day moving average price of C$6.31 and a 200 day moving average price of C$6.30. The company has a current ratio of 0.50, a quick ratio of 0.67 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 issued a $0.06 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.72 annualized dividend and a yield of 10.57%. Cardinal Energy's dividend payout ratio (DPR) is currently 111.27%.

Insider Activity at Cardinal Energy

In related news, Director John Festival acquired 6,925 shares of Cardinal Energy stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average cost of C$6.13 per share, for a total transaction of C$42,450.25. Also, Director John Albert Brussa acquired 30,000 shares of Cardinal Energy stock in a transaction that occurred on Monday, April 7th. The stock was bought at an average price of C$5.42 per share, for a total transaction of C$162,600.00. In the last ninety days, insiders have purchased 96,925 shares of company stock worth $560,050. 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.