Cardinal Energy (TSE:CJ) Trading Down 7.3% on Analyst Downgrade

Cardinal Energy Ltd. (TSE:CJ)’s share price was down 7.3% on Thursday after CIBC lowered their price target on the stock from C$8.00 to C$7.00. The stock traded as low as C$4.98 and last traded at C$5.06. Approximately 691,972 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 755,271 shares. The stock had previously closed at C$5.46.

Other research analysts also recently issued reports about the company. Atb Cap Markets downgraded Cardinal Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 30th. BMO Capital Markets boosted their price target on shares of Cardinal Energy from C$7.00 to C$7.50 in a research note on Tuesday, January 14th.

Insider Buying and Selling at Cardinal Energy

In related news, Director John Albert Brussa acquired 30,000 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was acquired at an average price of C$5.42 per share, for a total transaction of C$162,600.00. Also, Director M. Scott Ratushny acquired 10,000 shares of the stock in a transaction on Thursday, April 10th. The stock was bought at an average cost of C$5.00 per share, for a total transaction of C$50,000.00. Company insiders own 23.38% of the company’s stock.

Cardinal Energy Stock Down 8.4 %

The company has a market capitalization of C$798.07 million, a PE ratio of 7.73, a PEG ratio of -0.26 and a beta of 2.81. The company has a debt-to-equity ratio of 8.05, a quick ratio of 0.67 and a current ratio of 0.50. The stock’s 50 day moving average is C$6.25 and its 200 day moving average is C$6.41.

Cardinal Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $0.06 per share. The ex-dividend date is Monday, March 31st. This represents a $0.72 annualized dividend and a yield of 14.40%. Cardinal Energy’s dividend payout ratio is currently 111.27%.

Cardinal Energy Company Profile

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.