Cardinal Energy (TSE:CJ) Hits New 52-Week Low – Here’s What Happened

Cardinal Energy Ltd. (TSE:CJ) hit a new 52-week low on Friday . The stock traded as low as C$5.98 and last traded at C$6.02, with a volume of 73147 shares changing hands. The stock had previously closed at C$6.03.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CJ shares. Royal Bank of Canada lowered their target price on shares of Cardinal Energy from C$8.00 to C$7.00 in a report on Tuesday, September 17th. CIBC decreased their price objective on Cardinal Energy from C$8.75 to C$8.00 in a research note on Friday, November 8th. Finally, BMO Capital Markets dropped their price objective on Cardinal Energy from C$7.50 to C$7.00 in a report on Friday, October 4th.

Cardinal Energy Trading Up 1.3 %

The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 9.04. The company has a market capitalization of C$972.59 million, a P/E ratio of 8.37, a price-to-earnings-growth ratio of -0.26 and a beta of 2.81. The business has a fifty day moving average price of C$6.44 and a 200 day moving average price of C$6.61.

Cardinal Energy Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 11.78%. The ex-dividend date was Friday, November 29th. Cardinal Energy’s payout ratio is 98.63%.

Insiders Place Their Bets

In other Cardinal Energy news, Director M. Scott Ratushny acquired 10,000 shares of Cardinal Energy stock in a transaction dated Friday, December 20th. The stock was bought at an average cost of C$6.12 per share, for a total transaction of C$61,160.00. Also, Director John Festival bought 50,050 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average cost of C$6.20 per share, for a total transaction of C$310,310.00. Insiders bought a total of 69,050 shares of company stock valued at $428,678 in the last quarter. 23.38% of the stock is currently owned by insiders.

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.