Insider Selling: Cardinal Energy (TSE:CJ) Insider Sells C$327,711.30 in Stock

Cardinal Energy Ltd. (TSE:CJ) insider David Kelly sold 41,430 shares of the stock in a transaction dated Friday, October 24th. The stock was sold at an average price of C$7.91, for a total transaction of C$327,711.30. Following the sale, the insider owned 122,624 shares of the company’s stock, valued at C$969,955.84. This trade represents a 25.25% decrease in their position.

Cardinal Energy Price Performance

TSE CJ traded up C$0.26 during trading hours on Friday, reaching C$8.83. 977,553 shares of the company’s stock were exchanged, compared to its average volume of 767,165. The company has a current ratio of 0.50, a quick ratio of 0.67 and a debt-to-equity ratio of 8.05. The stock has a market cap of C$1.42 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of -0.26 and a beta of 0.29. The firm has a fifty day moving average of C$7.93 and a 200-day moving average of C$7.16. Cardinal Energy Ltd. has a one year low of C$4.64 and a one year high of C$9.05.

Cardinal Energy (TSE:CJ) last released its quarterly earnings results on Thursday, November 6th. The company reported C$0.09 earnings per share (EPS) for the quarter. The business had revenue of C$104.82 million during the quarter. Cardinal Energy had a return on equity of 11.24% and a net margin of 19.57%. On average, equities research analysts predict that Cardinal Energy Ltd. will post 0.625118 earnings per share for the current fiscal year.

Cardinal Energy Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 17th will be given a $0.06 dividend. This represents a c) dividend on an annualized basis and a yield of 8.2%. The ex-dividend date is Friday, October 31st. Cardinal Energy’s dividend payout ratio (DPR) is presently 150.00%.

Analysts Set New Price Targets

CJ has been the topic of several analyst reports. Raymond James Financial upgraded shares of Cardinal Energy to a “hold” rating in a report on Monday, September 22nd. Royal Bank Of Canada boosted their target price on Cardinal Energy from C$8.00 to C$8.50 and gave the company an “outperform” rating in a research note on Tuesday, October 7th. Finally, CIBC lifted their target price on Cardinal Energy from C$7.00 to C$8.25 in a research report on Wednesday, October 15th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$8.08.

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.