Cardinal Energy (TSE:CJ) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

Cardinal Energy Ltd. (TSE:CJ)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$6.60 and traded as low as C$6.41. Cardinal Energy shares last traded at C$6.46, with a volume of 724,849 shares traded.

Analysts Set New Price Targets

Several brokerages have recently commented on CJ. CIBC reduced their target price on Cardinal Energy from C$8.75 to C$8.00 in a research note on Friday, November 8th. BMO Capital Markets increased their target price on shares of Cardinal Energy from C$7.00 to C$7.50 in a research report on Tuesday, January 14th.

Cardinal Energy Stock Performance

The company has a debt-to-equity ratio of 9.04, a current ratio of 0.73 and a quick ratio of 0.67. The firm has a market cap of C$1.03 billion, a PE ratio of 8.85, a PEG ratio of -0.26 and a beta of 2.81. The business has a 50-day simple moving average of C$6.52 and a 200 day simple moving average of C$6.60.

Cardinal Energy (TSE:CJ) last released its earnings results on Thursday, November 7th. The company reported C$0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.24 by C($0.08). Cardinal Energy had a return on equity of 12.73% and a net margin of 22.78%. Equities research analysts forecast that Cardinal Energy Ltd. will post 0.625118 EPS for the current year.

Cardinal Energy Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th will be issued a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.15%. The ex-dividend date is Friday, January 31st. Cardinal Energy’s dividend payout ratio (DPR) is 98.63%.

Insider Buying and Selling at Cardinal Energy

In related news, Director M. Scott Ratushny acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average price of C$6.12 per share, with a total value of C$61,160.00. Also, Senior Officer Kenneth Cory Lee Younger sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of C$6.90, for a total transaction of C$82,800.00. Insiders have bought 137,650 shares of company stock worth $852,718 over the last quarter. 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.