Cardinal Energy (OTCMKTS:CRLFF) Trading Down 2.6% – Should You Sell?

Cardinal Energy Ltd. (OTCMKTS:CRLFF)’s share price traded down 2.6% during mid-day trading on Thursday . The company traded as low as $6.63 and last traded at $6.6830. 239,716 shares traded hands during trading, an increase of 250% from the average session volume of 68,417 shares. The stock had previously closed at $6.86.

Analyst Ratings Changes

Separately, Royal Bank Of Canada reiterated an “outperform” rating on shares of Cardinal Energy in a research report on Friday, November 21st. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Cardinal Energy Trading Down 2.4%

The business has a fifty day simple moving average of $6.37 and a 200 day simple moving average of $5.82.

Cardinal Energy Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a $0.0428 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a dividend yield of 807.0%. Cardinal Energy’s payout ratio is currently 8.93%.

Cardinal Energy Company Profile

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.