Insider Buying: Cardinal Energy Ltd. (TSE:CJ) Director Purchases 10,000 Shares of Stock

Cardinal Energy Ltd. (TSE:CJ) Director M. Scott Ratushny purchased 10,000 shares of the company’s stock in a transaction dated Thursday, April 10th. The stock was purchased at an average price of C$5.00 per share, for a total transaction of C$50,000.00.

Cardinal Energy Stock Down 7.9 %

Shares of Cardinal Energy stock traded down C$0.43 during trading on Thursday, reaching C$5.03. 1,487,780 shares of the company traded hands, compared to its average volume of 766,890. The company has a debt-to-equity ratio of 8.05, a current ratio of 0.50 and a quick ratio of 0.67. The firm has a market capitalization of C$802.86 million, a PE ratio of 7.77, a P/E/G ratio of -0.26 and a beta of 2.81. The company has a 50 day moving average price of C$6.25 and a 200-day moving average price of C$6.41. Cardinal Energy Ltd. has a 1-year low of C$4.64 and a 1-year high of C$7.38.

Cardinal Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 14.31%. Cardinal Energy’s dividend payout ratio (DPR) is presently 111.27%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. CIBC lowered their target price on shares of Cardinal Energy from C$8.00 to C$7.00 in a research note on Thursday. Atb Cap Markets lowered Cardinal Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 30th. Finally, BMO Capital Markets upped their target price on Cardinal Energy from C$7.00 to C$7.50 in a research report on Tuesday, January 14th.

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.