Cardinal Energy (TSE:CJ) Share Price Crosses Below 200-Day Moving Average – Time to Sell?

Shares of Cardinal Energy Ltd. (TSE:CJ) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$10.88 and traded as low as C$10.71. Cardinal Energy shares last traded at C$10.73, with a volume of 1,788,480 shares changing hands.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada lowered their target price on Cardinal Energy from C$14.00 to C$13.50 in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$12.62.

Cardinal Energy Stock Performance

The company has a current ratio of 0.63, a quick ratio of 0.67 and a debt-to-equity ratio of 13.97. The firm has a market capitalization of C$1.89 billion, a P/E ratio of 30.66, a price-to-earnings-growth ratio of -0.26 and a beta of 0.19. The company has a 50-day moving average of C$11.17 and a 200-day moving average of C$10.88.

Cardinal Energy (TSE:CJ) last posted its quarterly earnings data on Tuesday, July 28th. The company reported C$0.38 EPS for the quarter. The company had revenue of C$193.44 million for the quarter. Cardinal Energy had a return on equity of 6.96% and a net margin of 10.69%. On average, equities analysts anticipate that Cardinal Energy Ltd. will post 0.625118 earnings per share for the current fiscal year.

Cardinal Energy Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be paid a $0.06 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend is Friday, July 31st. Cardinal Energy’s payout ratio is currently 205.71%.

Insider Transactions at Cardinal Energy

In other Cardinal Energy news, insider Kenneth Cory Lee Younger sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of C$12.64, for a total value of C$316,000.00. Following the transaction, the insider directly owned 129,338 shares of the company’s stock, valued at approximately C$1,634,832.32. The trade was a 16.20% decrease in their ownership of the stock. Company insiders own 23.38% of the company’s stock.

Cardinal Energy Company Profile

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.