Cardinal Energy (TSE:CJ) Shares Cross Below 200 Day Moving Average – Time to Sell?

Cardinal Energy Ltd. (TSE:CJ) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$10.88 and traded as low as C$10.71. Cardinal Energy shares last traded at C$10.73, with a volume of 1,788,480 shares.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada lowered their target price on Cardinal Energy from C$14.00 to C$13.50 in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$12.62.

Cardinal Energy Trading Down 0.5%

The company has a quick ratio of 0.67, a current ratio of 0.63 and a debt-to-equity ratio of 13.97. The company’s 50-day moving average is C$11.14 and its 200-day moving average is C$10.89. The stock has a market capitalization of C$1.92 billion, a price-to-earnings ratio of 31.26, a PEG ratio of -0.26 and a beta of 0.19.

Cardinal Energy (TSE:CJ) last posted its quarterly earnings results on Tuesday, July 28th. The company reported C$0.38 earnings per share for the quarter. The business had revenue of C$193.44 million during the quarter. Cardinal Energy had a net margin of 10.69% and a return on equity of 6.96%. Research analysts anticipate that Cardinal Energy Ltd. will post 0.625118 earnings per share for the current fiscal year.

Cardinal Energy Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be given a $0.06 dividend. This represents a c) annualized dividend and a yield of 6.6%. The ex-dividend date is Friday, July 31st. Cardinal Energy’s dividend payout ratio is presently 205.71%.

Insider Transactions at Cardinal Energy

In other Cardinal Energy news, insider Kenneth Cory Lee Younger sold 25,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of C$12.64, for a total transaction of C$316,000.00. Following the completion of the sale, the insider owned 129,338 shares of the company’s stock, valued at C$1,634,832.32. This trade represents a 16.20% decrease in their ownership of the stock. 23.38% of the stock is currently owned by company insiders.

Cardinal Energy Company Profile

Cardinal is a Canadian oil and natural gas production company with operations focused on low decline sustainable oil production in Western Canada. Cardinal has recently completed its first thermal SAGD project in Reford, Saskatchewan and has transitioned to the production phase of operations. The Company’s portfolio of conventional and SAGD project inventory offers a complimentary low decline, long life resource base that is ideally suited to sustain our commitment to meaningful dividend returns to shareholders.