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

Cardinal Energy Ltd. (TSE:CJ)’s stock price fell 7.3% during trading 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. 691,972 shares traded hands during mid-day trading, a decline of 8% from the average session volume of 755,271 shares. The stock had previously closed at C$5.46.

Several other equities analysts have also commented on the stock. 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 increased their target price on shares of Cardinal Energy from C$7.00 to C$7.50 in a research report on Tuesday, January 14th.

Insider Activity

In other news, Senior Officer Kenneth Cory Lee Younger sold 12,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of C$6.90, for a total value of C$82,800.00. Also, Director M. Scott Ratushny bought 10,000 shares of the firm’s stock in a transaction dated Thursday, April 10th. The shares were acquired at an average price of C$5.00 per share, with a total value of C$50,000.00. Company insiders own 23.38% of the company’s stock.

Cardinal Energy Trading Down 8.2 %

The company has a fifty day moving average of C$6.23 and a two-hundred day moving average of C$6.40. The company has a quick ratio of 0.67, a current ratio of 0.50 and a debt-to-equity ratio of 8.05. The stock has a market capitalization of C$799.67 million, a price-to-earnings ratio of 7.74, a P/E/G ratio of -0.26 and a beta of 2.81.

Cardinal Energy Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be paid a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 14.37%. The ex-dividend date of this dividend is Monday, March 31st. Cardinal Energy’s dividend payout ratio (DPR) is presently 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.