Cardinal Energy (TSE:CJ) Shares Cross Above 50 Day Moving Average – Here’s Why

Cardinal Energy Ltd. (TSE:CJ) shares crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$6.42 and traded as high as C$6.69. Cardinal Energy shares last traded at C$6.59, with a volume of 658,295 shares changing hands.

Analyst Ratings Changes

CJ has been the subject of several analyst reports. Atb Cap Markets downgraded shares of Cardinal Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 30th. BMO Capital Markets upped their price objective on shares of Cardinal Energy from C$7.00 to C$7.50 in a research report on Tuesday, January 14th.

Cardinal Energy Stock Up 0.3 %

The firm has a fifty day simple moving average of C$6.41 and a 200-day simple moving average of C$6.45. The company has a market capitalization of C$1.05 billion, a PE ratio of 10.20, a P/E/G 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 business also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.91%. Cardinal Energy’s dividend payout ratio (DPR) is presently 111.27%.

Insider Activity at Cardinal Energy

In related news, Senior Officer Kenneth Cory Lee Younger sold 12,000 shares of Cardinal Energy stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of C$6.90, for a total value of C$82,800.00. 23.38% of the stock is currently owned by corporate 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.