Cardinal Energy (OTCMKTS:CRLFF) Trading Up 2.4% – Here’s What Happened

Cardinal Energy Ltd. (OTCMKTS:CRLFF)’s stock price shot up 2.4% on Thursday . The stock traded as high as $6.07 and last traded at $6.05. 48,055 shares were traded during trading, a decline of 41% from the average session volume of 80,771 shares. The stock had previously closed at $5.91.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CRLFF shares. Raymond James Financial began coverage on shares of Cardinal Energy in a research report on Monday, September 22nd. They issued a “market perform” rating on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Cardinal Energy in a research note on Friday, November 21st. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Cardinal Energy Stock Up 1.2%

The firm has a 50 day moving average of $6.27 and a 200-day moving average of $5.67.

Cardinal Energy Cuts Dividend

The company also recently declared a dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a dividend of $0.0428 per share. The ex-dividend date was Friday, November 28th. This represents a dividend yield of 807.0%. Cardinal Energy’s dividend payout ratio (DPR) is currently 8.93%.

About Cardinal Energy

Cardinal Energy Ltd. (OTCMKTS: CRLFF) is a Canada-based upstream oil and gas company focused on the exploration, development and production of conventional hydrocarbon resources in Western Canada. Founded in 2009 and headquartered in Calgary, Alberta, Cardinal Energy targets mature resource plays in Alberta and Saskatchewan, with a core asset base in the Cardium and Mannville formations as well as shallow natural gas zones.

The company pursues a disciplined growth strategy grounded in low-cost drilling, optimized well design and efficient operations.