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

Cardinal Energy Ltd. (TSE:CJ)’s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$6.70 and traded as low as C$6.48. Cardinal Energy shares last traded at C$6.54, with a volume of 558,566 shares trading hands.

Analyst Ratings Changes

Several research firms recently issued reports on CJ. BMO Capital Markets cut their price target on shares of Cardinal Energy from C$7.50 to C$7.00 in a report on Friday, October 4th. CIBC reduced their price target on Cardinal Energy from C$8.75 to C$8.00 in a report on Friday, November 8th. Finally, Royal Bank of Canada reduced their target price on Cardinal Energy from C$8.00 to C$7.00 in a report on Tuesday, September 17th.

Cardinal Energy Stock Performance

The company has a market capitalization of C$1.04 billion, a PE ratio of 8.96, a P/E/G ratio of -0.26 and a beta of 2.81. The stock has a 50-day simple moving average of C$6.45 and a 200 day simple moving average of C$6.70. The company has a debt-to-equity ratio of 9.04, a current ratio of 0.73 and a quick ratio of 0.67.

Cardinal Energy Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.06 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.72 dividend on an annualized basis and a yield of 11.01%. Cardinal Energy’s payout ratio is 98.63%.

Insiders Place Their Bets

In other news, Director John Albert Brussa purchased 6,400 shares of the stock in a transaction dated Wednesday, September 25th. The stock was acquired at an average cost of C$6.40 per share, for a total transaction of C$40,960.00. Also, Director John Festival acquired 50,050 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was purchased at an average cost of C$6.20 per share, with a total value of C$310,310.00. Over the last quarter, insiders acquired 59,050 shares of company stock worth $367,518. Insiders own 23.38% of the company’s stock.

Cardinal Energy Company Profile

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.