Cardinal Energy Ltd. to Issue Monthly Dividend of $0.06 (TSE:CJ)

Cardinal Energy Ltd. (TSE:CJ) announced a monthly dividend on Monday, August 12th, Zacks reports. Investors of record on Friday, August 30th will be given a dividend of 0.06 per share on Monday, September 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.37%. The ex-dividend date of this dividend is Friday, August 30th.

Cardinal Energy Stock Up 0.6 %

CJ traded up C$0.04 during midday trading on Wednesday, reaching C$6.94. 213,859 shares of the company were exchanged, compared to its average volume of 600,210. The company has a market cap of C$1.10 billion, a price-to-earnings ratio of 9.49, a price-to-earnings-growth ratio of -0.26 and a beta of 2.85. Cardinal Energy has a one year low of C$5.75 and a one year high of C$7.96. The company’s fifty day moving average price is C$6.78 and its 200 day moving average price is C$6.80. The company has a debt-to-equity ratio of 9.04, a quick ratio of 0.67 and a current ratio of 0.73.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CJ. BMO Capital Markets cut their price target on shares of Cardinal Energy from C$8.00 to C$7.50 in a report on Wednesday, July 3rd. CIBC boosted their target price on Cardinal Energy from C$8.50 to C$8.75 in a research note on Monday, July 15th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$8.45.

Insider Buying and Selling

In other news, Senior Officer David Kelly sold 6,700 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of C$6.61, for a total transaction of C$44,287.00. 23.37% of the stock is currently owned by corporate 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.