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

Cardinal Energy Ltd. (TSE:CJ)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$6.83 and traded as low as C$6.41. Cardinal Energy shares last traded at C$6.44, with a volume of 589,530 shares.

Analysts Set New Price Targets

CJ has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price objective on shares of Cardinal Energy from C$7.50 to C$7.00 in a research report on Friday. Royal Bank of Canada dropped their target price on Cardinal Energy from C$8.00 to C$7.00 in a report on Tuesday, September 17th. Finally, CIBC lifted their price target on Cardinal Energy from C$8.50 to C$8.75 in a report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$7.95.

Cardinal Energy Price Performance

The stock’s 50-day moving average is C$6.68 and its 200 day moving average is C$6.82. The company has a debt-to-equity ratio of 9.04, a quick ratio of 0.67 and a current ratio of 0.73. The stock has a market capitalization of C$1.05 billion, a PE ratio of 9.10, a P/E/G ratio of -0.26 and a beta of 2.84.

Cardinal Energy (TSE:CJ) last posted its earnings results on Thursday, August 1st. The company reported C$0.25 EPS for the quarter, missing analysts’ consensus estimates of C$0.33 by C($0.08). The firm had revenue of C$169.35 million for the quarter, compared to analyst estimates of C$164.70 million. Cardinal Energy had a return on equity of 12.73% and a net margin of 22.78%. As a group, equities analysts expect that Cardinal Energy Ltd. will post 0.635 earnings per share for the current year.

Cardinal Energy Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 10.89%. The ex-dividend date is Monday, September 30th. Cardinal Energy’s dividend payout ratio is currently 98.63%.

Insider Buying and Selling at Cardinal Energy

In other news, Director John Albert Brussa acquired 6,400 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were bought at an average cost of C$6.40 per share, with a total value of C$40,960.00. 23.38% of the stock is currently owned by company 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.