Cardinal Energy (TSE:CJ) Reaches New 1-Year Low – Here’s What Happened

Cardinal Energy Ltd. (TSE:CJ) shares hit a new 52-week low on Monday . The stock traded as low as C$0.00 and last traded at C$6.36, with a volume of 258676 shares traded. The stock had previously closed at C$6.42.

Analysts Set New Price Targets

CJ has been the subject of several research reports. BMO Capital Markets upped their price objective on shares of Cardinal Energy from C$7.00 to C$7.50 in a research note on Tuesday, January 14th. CIBC cut their price target on Cardinal Energy from C$8.75 to C$8.00 in a research report on Friday, November 8th. Finally, Atb Cap Markets lowered Cardinal Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 30th.

Cardinal Energy Stock Performance

The company has a current ratio of 0.50, a quick ratio of 0.67 and a debt-to-equity ratio of 8.05. The company’s 50-day moving average is C$6.52 and its two-hundred day moving average is C$6.53. The stock has a market capitalization of C$976.84 million, a P/E ratio of 9.46, a P/E/G ratio of -0.26 and a beta of 2.81.

Cardinal Energy Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 17th will be given a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 11.76%. The ex-dividend date is Friday, February 28th. Cardinal Energy’s dividend payout ratio is currently 111.27%.

Insider Buying and Selling

In other news, Director John Festival bought 75,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average price of C$6.20 per share, with a total value of C$465,000.00. Also, Director M. Scott Ratushny purchased 10,000 shares of the business’s stock in a transaction on Friday, December 20th. The shares were acquired at an average cost of C$6.12 per share, for a total transaction of C$61,160.00. 23.38% of the stock is owned by company 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.