Cardinal Energy (TSE:CJ) Shares Down 8.6% – What’s Next?

Shares of Cardinal Energy Ltd. (TSE:CJ) dropped 8.6% during trading on Monday . The company traded as low as C$5.19 and last traded at C$5.23. Approximately 1,780,960 shares changed hands during mid-day trading, an increase of 164% from the average daily volume of 674,397 shares. The stock had previously closed at C$5.72.

Wall Street Analysts Forecast Growth

CJ has been the topic of several recent analyst reports. Atb Cap Markets lowered shares of Cardinal Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 30th. BMO Capital Markets upped their price objective on Cardinal Energy from C$7.00 to C$7.50 in a research note on Tuesday, January 14th.

Cardinal Energy Trading Up 9.4 %

The company has a market cap of C$871.50 million, a price-to-earnings ratio of 8.44, a PEG ratio of -0.26 and a beta of 2.81. 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 business’s 50 day moving average price is C$6.29 and its 200-day moving average price is C$6.42.

Cardinal Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 13.19%. The ex-dividend date is Monday, March 31st. Cardinal Energy’s dividend payout ratio is presently 111.27%.

Insider Transactions at Cardinal Energy

In related news, Director John Albert Brussa bought 30,000 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was purchased at an average cost of C$5.42 per share, for a total transaction of C$162,600.00. Also, Senior Officer Kenneth Cory Lee Younger sold 12,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of C$6.90, for a total value of C$82,800.00. 23.38% of the stock is owned by corporate insiders.

About Cardinal Energy

Cardinal Energy Ltd is an oil-focused Canadian company. The company’s principal business activity is the acquisition, exploration, and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan.