Cardinal Energy (OTCMKTS:CRLFF) Trading 1.3% Higher – Still a Buy?

Cardinal Energy Ltd. (OTCMKTS:CRLFF)’s stock price traded up 1.3% on Wednesday . The company traded as high as $6.1440 and last traded at $6.14. 25,345 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 63,784 shares. The stock had previously closed at $6.0590.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CRLFF. Raymond James Financial initiated coverage on shares of Cardinal Energy in a report on Monday, September 22nd. They set a “market perform” rating on the stock. Royal Bank Of Canada restated an “outperform” rating on shares of Cardinal Energy in a research report on Friday, November 21st. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Cardinal Energy Stock Performance

The stock has a 50 day simple moving average of $6.07 and a 200-day simple moving average of $5.53.

Cardinal Energy Cuts Dividend

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