Cardinal Energy (TSE:CJ) Shares Down 4.2% – Time to Sell?

Cardinal Energy Ltd. (TSE:CJ)’s share price traded down 4.2% on Wednesday . The company traded as low as C$4.64 and last traded at C$4.78. 490,492 shares were traded during trading, a decline of 33% from the average session volume of 729,466 shares. The stock had previously closed at C$4.99.

Analyst Upgrades and Downgrades

Several research firms have commented on CJ. CIBC cut their price objective on Cardinal Energy from C$8.00 to C$7.00 in a research report on Thursday. BMO Capital Markets raised their target price on Cardinal Energy from C$7.00 to C$7.50 in a report on Tuesday, January 14th. Finally, Atb Cap Markets lowered Cardinal Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 30th.

Cardinal Energy Stock Performance

The firm has a market capitalization of C$834.79 million, a price-to-earnings ratio of 8.08, a price-to-earnings-growth ratio of -0.26 and a beta of 2.81. 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 fifty day moving average is C$6.23 and its two-hundred day moving average is C$6.40.

Cardinal Energy Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 13.77%. Cardinal Energy’s dividend payout ratio is presently 111.27%.

Insider Buying and Selling

In related news, Director M. Scott Ratushny acquired 10,000 shares of the firm’s stock in a transaction on Thursday, April 10th. The stock was bought at an average cost of C$5.00 per share, with a total value of C$50,000.00. Also, Senior Officer Kenneth Cory Lee Younger sold 12,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of C$6.90, for a total transaction of C$82,800.00. Insiders own 23.38% of the company’s stock.

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.