Cardinal Energy (TSE:CJ) Stock Price Crosses Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Cardinal Energy shares fell below their 200-day moving average, trading as low as C$10.71 versus the C$10.88 average, and last changing hands at C$10.73.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of C$12.62, although Royal Bank of Canada lowered its target from C$14.00 to C$13.50.
• Cardinal reported quarterly EPS of C$0.38 on C$193.44 million in revenue and declared a monthly C$0.06 dividend, representing an annualized yield of about 6.7%.

Cardinal Energy Ltd. (TSE:CJ - Get Free Report) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$10.88 and traded as low as C$10.71. Cardinal Energy shares last traded at C$10.73, with a volume of 1,788,480 shares trading hands.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada decreased their price objective on Cardinal Energy from C$14.00 to C$13.50 in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of C$12.62.

Cardinal Energy Price Performance

The company has a market capitalization of C$1.89 billion, a P/E ratio of 30.66, a P/E/G ratio of -0.26 and a beta of 0.19. The company has a 50 day moving average price of C$11.17 and a 200 day moving average price of C$10.88. The company has a current ratio of 0.63, a quick ratio of 0.67 and a debt-to-equity ratio of 13.97.

Cardinal Energy (TSE:CJ - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported C$0.38 earnings per share for the quarter. The company had revenue of C$193.44 million for the quarter. Cardinal Energy had a net margin of 10.69% and a return on equity of 6.96%. On average, equities analysts predict that Cardinal Energy Ltd. will post 0.625118 EPS for the current fiscal year.

Cardinal Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 17th will be issued a $0.06 dividend. This represents a c) dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend is Friday, July 31st. Cardinal Energy's dividend payout ratio is currently 205.71%.

Insider Activity at Cardinal Energy

In related news, insider Kenneth Cory Lee Younger sold 25,000 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of C$12.64, for a total transaction of C$316,000.00. Following the transaction, the insider directly owned 129,338 shares of the company's stock, valued at approximately C$1,634,832.32. This trade represents a 16.20% decrease in their ownership of the stock. Company insiders own 23.38% of the company's stock.

Cardinal Energy Company Profile

Cardinal is a Canadian oil and natural gas production company with operations focused on low decline sustainable oil production in Western Canada. Cardinal has recently completed its first thermal SAGD project in Reford, Saskatchewan and has transitioned to the production phase of operations. The Company's portfolio of conventional and SAGD project inventory offers a complimentary low decline, long life resource base that is ideally suited to sustain our commitment to meaningful dividend returns to shareholders.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source