Cardinal Energy (TSE:CJ) Stock Price Down 8.6% – Time to Sell?

Shares of Cardinal Energy Ltd. (TSE:CJ) fell 8.6% during mid-day trading on Monday . The company traded as low as C$5.19 and last traded at C$5.23. 1,780,960 shares were traded during mid-day trading, an increase of 164% from the average session volume of 674,397 shares. The stock had previously closed at C$5.72.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Atb Cap Markets lowered shares of Cardinal Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 30th. BMO Capital Markets increased their target price on Cardinal Energy from C$7.00 to C$7.50 in a research note on Tuesday, January 14th.

Cardinal Energy Stock Performance

The company has a market cap of C$844.36 million, a P/E ratio of 8.17, a price-to-earnings-growth ratio of -0.26 and a beta of 2.81. The company’s fifty day moving average is C$6.38 and its 200 day moving average is C$6.45. The company has a current ratio of 0.50, a quick ratio of 0.67 and a debt-to-equity ratio of 8.05.

Cardinal Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 13.61%. Cardinal Energy’s dividend payout ratio (DPR) is currently 111.27%.

Insider Activity

In other Cardinal Energy news, Senior Officer Kenneth Cory Lee Younger sold 12,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of C$6.90, for a total transaction of C$82,800.00. Also, Director John Albert Brussa purchased 30,000 shares of the business’s stock in a transaction on Monday, April 7th. The stock was purchased at an average cost of C$5.42 per share, for a total transaction of C$162,600.00. 23.38% of the stock is currently owned by corporate insiders.

Cardinal Energy Company Profile

Cardinal Energy Ltd is an oil-focused Canadian company. The company’s principal business activity is the acquisition, exploration, and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan.