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

Cardinal Energy Ltd. (TSE:CJ - Get Free Report) shares passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$6.35 and traded as high as C$6.82. Cardinal Energy shares last traded at C$6.73, with a volume of 614,419 shares.

Wall Street Analyst Weigh In

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

Cardinal Energy Price Performance

The company has a 50-day simple moving average of C$6.36 and a two-hundred day simple moving average of C$6.32. The stock has a market cap of C$1.07 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of -0.26 and a beta of 2.81. The company has a debt-to-equity ratio of 8.05, a quick ratio of 0.67 and a current ratio of 0.50.

Cardinal Energy Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 15th will be paid a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.78%. The ex-dividend date of this dividend is Monday, June 30th. Cardinal Energy's payout ratio is 111.27%.

Insider Buying and Selling at Cardinal Energy

In related news, Director John Albert Brussa bought 30,000 shares of the company's stock in a transaction dated Monday, April 7th. The shares were bought at an average price of C$5.42 per share, for a total transaction of C$162,600.00. Also, Director M. Scott Ratushny bought 10,000 shares of the firm's stock in a transaction dated Thursday, April 10th. The shares were acquired at an average cost of C$5.00 per share, with a total value of C$50,000.00. In the last 90 days, insiders bought 96,925 shares of company stock valued at $560,050. 23.38% of the stock is currently owned by company 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.