Cardinal Energy (TSE:CJ) Shares Cross Above Fifty Day Moving Average – What’s Next?

Shares of Cardinal Energy Ltd. (TSE:CJ) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$11.78 and traded as high as C$12.22. Cardinal Energy shares last traded at C$12.11, with a volume of 563,388 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CJ shares. BMO Capital Markets upgraded shares of Cardinal Energy from a “hold” rating to an “outperform” rating and set a C$13.00 price objective for the company in a research report on Tuesday, April 7th. Canadian Imperial Bank of Commerce upgraded shares of Cardinal Energy from a “hold” rating to a “strong-buy” rating and increased their price objective for the company from C$7.75 to C$11.00 in a research report on Thursday, February 5th. Royal Bank Of Canada increased their price objective on shares of Cardinal Energy from C$9.50 to C$11.00 and gave the company an “outperform” rating in a research report on Monday, March 16th. Finally, Raymond James Financial upgraded shares of Cardinal Energy from a “hold” rating to a “moderate buy” rating and increased their price objective for the company from C$9.50 to C$13.00 in a research report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. Based on data from MarketBeat, Cardinal Energy presently has an average rating of “Buy” and a consensus price target of C$12.00.

Cardinal Energy Trading Up 1.7%

The firm has a market cap of C$2.12 billion, a PE ratio of 201.83, a P/E/G ratio of -0.26 and a beta of 0.26. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 18.36. The company’s 50 day moving average price is C$11.78 and its two-hundred day moving average price is C$10.14.

Cardinal Energy (TSE:CJ) last announced its earnings results on Thursday, March 12th. The company reported C($0.18) earnings per share for the quarter. Cardinal Energy had a net margin of 2.09% and a return on equity of 1.14%. The firm had revenue of C$109.19 million during the quarter. As a group, sell-side analysts forecast that Cardinal Energy Ltd. will post 0.625118 EPS for the current year.

Cardinal Energy Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 15th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) annualized dividend and a dividend yield of 5.9%. Cardinal Energy’s dividend payout ratio is currently 1,200.00%.

Insider Buying and Selling at Cardinal Energy

In other news, insider Kenneth Cory Lee Younger sold 25,000 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of C$12.64, for a total value of C$316,000.00. Following the sale, the insider owned 129,338 shares of the company’s stock, valued at approximately C$1,634,832.32. This represents a 16.20% decrease in their ownership of the stock. Corporate 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.