Cardinal Energy (TSE:CJ) Stock Crosses Below 200 Day Moving Average – Here’s Why

Cardinal Energy Ltd. (TSE:CJ)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$6.58 and traded as low as C$6.25. Cardinal Energy shares last traded at C$6.30, with a volume of 623,102 shares.

Wall Street Analysts Forecast Growth

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

Cardinal Energy Stock Down 0.8 %

The firm has a market capitalization of C$1.00 billion, a price-to-earnings ratio of 8.63, a P/E/G ratio of -0.26 and a beta of 2.81. The firm has a fifty day moving average price of C$6.49 and a 200 day moving average price of C$6.58. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 9.04.

Cardinal Energy (TSE:CJ) last issued its quarterly earnings data on Thursday, November 7th. The company reported C$0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.24 by C($0.08). Cardinal Energy had a net margin of 22.78% and a return on equity of 12.73%. Sell-side analysts anticipate that Cardinal Energy Ltd. will post 0.625118 EPS for the current fiscal year.

Cardinal Energy Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th will be issued a $0.06 dividend. The ex-dividend date is Friday, January 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.43%. Cardinal Energy’s dividend payout ratio is 98.63%.

Insider Buying and Selling

In related news, Director M. Scott Ratushny acquired 10,000 shares of the company’s stock in a transaction that occurred 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. Also, Director John Festival acquired 50,050 shares of Cardinal Energy stock in a transaction on Monday, November 11th. The shares were purchased at an average cost of C$6.20 per share, for a total transaction of C$310,310.00. Insiders have purchased a total of 137,650 shares of company stock worth $852,718 in the last 90 days. Corporate insiders own 23.38% of the company’s stock.

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.