Cardinal Energy Ltd. (TSE:CJ) Announces $0.06 Monthly Dividend

Cardinal Energy Ltd. (TSE:CJ) declared a monthly dividend on Wednesday, April 30th, TickerTech Dividends reports. Stockholders of record on Thursday, May 15th will be paid a dividend of 0.06 per share on Thursday, May 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.73%. The ex-dividend date is Wednesday, April 30th.

Cardinal Energy Price Performance

CJ stock opened at C$6.14 on Monday. The company has a debt-to-equity ratio of 8.05, a quick ratio of 0.67 and a current ratio of 0.50. The stock’s 50 day moving average price is C$6.11 and its 200 day moving average price is C$6.35. The firm has a market cap of C$980.03 million, a P/E ratio of 9.49, a PEG ratio of -0.26 and a beta of 2.81. Cardinal Energy has a 1 year low of C$4.64 and a 1 year high of C$7.38.

Insiders Place Their Bets

In related news, Director John Albert Brussa bought 30,000 shares of the stock in a transaction dated Monday, April 7th. The stock was acquired at an average price of C$5.42 per share, for a total transaction of C$162,600.00. Also, Director M. Scott Ratushny purchased 10,000 shares of Cardinal Energy stock in a transaction that occurred on Thursday, April 10th. The shares were bought at an average cost of C$5.00 per share, for a total transaction of C$50,000.00. 23.38% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports 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 boosted their price target on Cardinal Energy from C$7.00 to C$7.50 in a report on Tuesday, January 14th. CIBC dropped their target price on Cardinal Energy from C$8.00 to C$7.00 in a research note on Thursday, April 10th. Finally, Royal Bank of Canada raised Cardinal Energy from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$7.00 to C$7.50 in a research note on Thursday, April 17th.

About Cardinal Energy

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.