Cardinal Energy (TSE:CJ) Stock Crosses Below Two Hundred Day Moving Average – Should You Sell?

Cardinal Energy Ltd. (TSE:CJ)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$6.55 and traded as low as C$6.35. Cardinal Energy shares last traded at C$6.40, with a volume of 444,336 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have commented on CJ shares. Atb Cap Markets cut Cardinal Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 30th. CIBC decreased their target price on Cardinal Energy from C$8.75 to C$8.00 in a report on Friday, November 8th. Finally, BMO Capital Markets upped their price objective on Cardinal Energy from C$7.00 to C$7.50 in a report on Tuesday, January 14th.

Cardinal Energy Trading Down 0.3 %

The company has a market cap of C$1.02 billion, a price-to-earnings ratio of 9.89, a PEG ratio of -0.26 and a beta of 2.81. The firm has a 50 day moving average price of C$6.48 and a two-hundred day moving average price of C$6.54. The company has a quick ratio of 0.67, a current ratio of 0.50 and a debt-to-equity ratio of 8.05.

Cardinal Energy Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.72 annualized dividend and a yield of 11.25%. Cardinal Energy’s dividend payout ratio is currently 111.27%.

Insider Buying and Selling

In other Cardinal Energy news, Senior Officer Kenneth Cory Lee Younger sold 12,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of C$6.90, for a total value of C$82,800.00. Also, Director M. Scott Ratushny purchased 10,000 shares of the business’s stock in a transaction on Friday, December 20th. The stock was purchased at an average price of C$6.12 per share, for a total transaction of C$61,160.00. 23.38% of the stock is currently owned by insiders.

About Cardinal Energy

Cardinal Energy Ltd. engages in the acquisition, development, optimization, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Cardinal Energy Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.