Cardinal Energy (TSE:CJ) Shares Cross Above Fifty Day Moving Average – What’s Next?

Cardinal Energy Ltd. (TSE:CJ) shares passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$11.78 and traded as high as C$12.22. Cardinal Energy shares last traded at C$12.11, with a volume of 563,388 shares traded.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CJ. BMO Capital Markets upgraded shares of Cardinal Energy from a “hold” rating to an “outperform” rating and set a C$13.00 price target for the company in a research report on Tuesday, April 7th. Royal Bank Of Canada upped their price target on shares of Cardinal Energy from C$9.50 to C$11.00 and gave the stock an “outperform” rating in a research report on Monday, March 16th. Canadian Imperial Bank of Commerce upgraded shares of Cardinal Energy from a “hold” rating to a “strong-buy” rating and upped their price target for the stock from C$7.75 to C$11.00 in a research report on Thursday, February 5th. Finally, Raymond James Financial upgraded shares of Cardinal Energy from a “hold” rating to a “moderate buy” rating and upped their price target for the stock from C$9.50 to C$13.00 in a research report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to data from MarketBeat, Cardinal Energy presently has a consensus rating of “Buy” and an average target price of C$12.00.

Cardinal Energy Trading Up 1.7%

The company has a debt-to-equity ratio of 18.36, a current ratio of 0.69 and a quick ratio of 0.67. The stock’s 50-day moving average is C$11.78 and its two-hundred day moving average is C$10.14. The stock has a market cap of C$2.12 billion, a P/E ratio of 201.83, a price-to-earnings-growth ratio of -0.26 and a beta of 0.26.

Cardinal Energy (TSE:CJ) last issued its earnings results on Thursday, March 12th. The company reported C($0.18) earnings per share for the quarter. Cardinal Energy had a return on equity of 1.14% and a net margin of 2.09%.The company had revenue of C$109.19 million for the quarter. Equities research analysts anticipate 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 Monday, June 15th. Investors of record on Monday, June 15th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. Cardinal Energy’s dividend payout ratio is currently 1,200.00%.

Insider Buying and Selling

In other Cardinal Energy news, insider Kenneth Cory Lee Younger sold 25,000 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of C$12.64, for a total transaction of C$316,000.00. Following the completion of the transaction, the insider owned 129,338 shares in the company, valued at C$1,634,832.32. This trade represents a 16.20% decrease in their ownership of the stock. 23.38% of the stock is owned by company insiders.

About Cardinal Energy

Cardinal is a Canadian oil and natural gas production company with operations focused on low decline sustainable oil production in Western Canada. Cardinal has recently completed its first thermal SAGD project in Reford, Saskatchewan and has transitioned to the production phase of operations. The Company’s portfolio of conventional and SAGD project inventory offers a complimentary low decline, long life resource base that is ideally suited to sustain our commitment to meaningful dividend returns to shareholders.