Cardinal Energy (TSE:CJ) Stock Passes Below 200 Day Moving Average – Should You Sell?

Cardinal Energy Ltd. (TSE:CJ) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$6.81 and traded as low as C$6.57. Cardinal Energy shares last traded at C$6.62, with a volume of 317,562 shares.

Analyst Ratings Changes

CJ has been the topic of several analyst reports. Royal Bank of Canada reduced their target price on Cardinal Energy from C$8.00 to C$7.00 in a report on Tuesday, September 17th. BMO Capital Markets reduced their price objective on shares of Cardinal Energy from C$7.50 to C$7.00 in a research note on Friday, October 4th. Finally, CIBC lifted their target price on shares of Cardinal Energy from C$8.50 to C$8.75 in a research note on Monday, July 15th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$7.95.

Cardinal Energy Price Performance

The business has a 50-day moving average of C$6.64 and a 200 day moving average of C$6.81. 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 firm has a market capitalization of C$1.05 billion, a P/E ratio of 9.07, a price-to-earnings-growth ratio of -0.26 and a beta of 2.84.

Cardinal Energy (TSE:CJ) last posted its earnings results on Thursday, August 1st. The company reported C$0.25 EPS for the quarter, missing the consensus estimate of C$0.33 by C($0.08). The business had revenue of C$169.35 million for the quarter, compared to the consensus estimate of C$164.70 million. Cardinal Energy had a return on equity of 12.73% and a net margin of 22.78%. On average, sell-side analysts predict that Cardinal Energy Ltd. will post 0.635 earnings per share for the current fiscal year.

Cardinal Energy Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.88%. Cardinal Energy’s payout ratio is presently 98.63%.

Insiders Place Their Bets

In related news, Director John Albert Brussa bought 6,400 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were purchased at an average cost of C$6.40 per share, for a total transaction of C$40,960.00. Insiders own 23.38% of the company’s stock.

Cardinal Energy Company Profile

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.