Cardinal Energy (TSE:CJ) Share Price Crosses Below Two Hundred Day Moving Average of $6.84

Cardinal Energy Ltd. (TSE:CJ)’s stock price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$6.84 and traded as low as C$6.40. Cardinal Energy shares last traded at C$6.46, with a volume of 686,682 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CJ. BMO Capital Markets dropped their price objective on shares of Cardinal Energy from C$8.00 to C$7.50 in a report on Wednesday, July 3rd. Royal Bank of Canada cut their price objective on Cardinal Energy from C$8.00 to C$7.00 in a research note on Tuesday, September 17th. Finally, CIBC increased their target price on shares of Cardinal Energy from C$8.50 to C$8.75 in a research report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$8.05.

Cardinal Energy Price Performance

The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 9.04. The business has a fifty day simple moving average of C$6.76 and a 200 day simple moving average of C$6.84. The stock has a market capitalization of C$1.03 billion, a P/E ratio of 8.85, a price-to-earnings-growth ratio of -0.26 and a beta of 2.84.

Cardinal Energy (TSE:CJ) last announced its earnings results on Thursday, August 1st. The company reported C$0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.33 by C($0.08). Cardinal Energy had a net margin of 22.78% and a return on equity of 12.73%. The business had revenue of C$169.35 million for the quarter, compared to analysts’ expectations of C$164.70 million. On average, analysts expect that Cardinal Energy Ltd. will post 0.8847737 earnings per share for the current year.

Cardinal Energy Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, September 30th. This represents a $0.72 dividend on an annualized basis and a yield of 11.15%. Cardinal Energy’s dividend payout ratio is presently 98.63%.

About Cardinal Energy

Cardinal Energy Ltd. engages in the acquisition, development, optimization, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Cardinal Energy Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.