Cardinal Energy (TSE:CJ) Share Price Passes Above Fifty Day Moving Average - Should You Sell?

Key Points

• Cardinal Energy's stock price has recently surpassed its 50-day moving average of C$6.73, reaching a high of C$7.38 during trading.
• The company announced a monthly dividend of $0.06 per share, which translates to a 9.78% annualized yield, with the ex-dividend date set for July 31st.
• Analyst ratings saw a mixed response, with CIBC lowering its price target for Cardinal Energy from C$8.00 to C$7.00, while Royal Bank of Canada upgraded their rating and increased their target to C$7.50.

Cardinal Energy Ltd. (TSE:CJ - Get Free Report)'s share price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$6.73 and traded as high as C$7.38. Cardinal Energy shares last traded at C$7.36, with a volume of 785,657 shares.

Wall Street Analyst Weigh In

CJ has been the subject of several research analyst reports. Royal Bank Of Canada raised shares of Cardinal Energy from a "sector perform" rating to an "outperform" rating and upped their price objective for the stock from C$7.00 to C$7.50 in a report on Thursday, April 17th. CIBC reduced their price target on shares of Cardinal Energy from C$8.00 to C$7.00 in a research note on Thursday, April 10th.

Cardinal Energy Stock Performance

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 firm has a 50-day simple moving average of C$6.78 and a two-hundred day simple moving average of C$6.39. The company has a market capitalization of C$1.13 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth 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 given a $0.06 dividend. This represents a c) annualized dividend and a yield of 10.2%. The ex-dividend date of this dividend is Thursday, July 31st. Cardinal Energy's dividend payout ratio is presently 111.27%.

Insider Activity at Cardinal Energy

In related news, Director John Festival acquired 50,000 shares of the stock in a transaction dated Thursday, May 15th. The shares were acquired at an average price of C$6.10 per share, with a total value of C$305,000.00. Corporate 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.