Cardinal Energy Ltd. (TSE:CJ) Director John Festival Purchases 50,000 Shares

Cardinal Energy Ltd. (TSE:CJ) Director John Festival acquired 50,000 shares of the stock in a transaction on Thursday, May 15th. The shares were purchased at an average price of C$6.10 per share, with a total value of C$305,000.00.

Cardinal Energy Stock Up 1.0%

Shares of TSE:CJ opened at C$6.16 on Monday. The company has a fifty day moving average of C$5.99 and a 200-day moving average of C$6.28. The company has a market capitalization of C$983.23 million, a PE ratio of 9.52, 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. Cardinal Energy Ltd. has a 52-week low of C$4.64 and a 52-week high of C$7.19.

Cardinal Energy Announces Dividend

The business also recently declared a monthly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $0.72 annualized dividend and a dividend yield of 11.69%. Cardinal Energy’s dividend payout ratio (DPR) is presently 111.27%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Atb Cap Markets downgraded shares of Cardinal Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 30th. CIBC lowered their price objective on shares of Cardinal Energy from C$8.00 to C$7.00 in a research report on Thursday, April 10th. Finally, Royal Bank of Canada upgraded shares of Cardinal Energy from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$7.00 to C$7.50 in a research report on Thursday, April 17th.

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.