Cardinal Energy (OTCMKTS:CRLFF) Stock Price Up 2.4% – Time to Buy?

Cardinal Energy Ltd. (OTCMKTS:CRLFF)’s share price shot up 2.4% on Thursday . The stock traded as high as $6.07 and last traded at $6.05. 48,055 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 80,771 shares. The stock had previously closed at $5.91.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CRLFF shares. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Cardinal Energy in a report on Friday, November 21st. Raymond James Financial started coverage on shares of Cardinal Energy in a research report on Monday, September 22nd. They set a “market perform” rating for the company. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Cardinal Energy Stock Up 2.4%

The firm’s 50-day moving average price is $6.26 and its two-hundred day moving average price is $5.66.

Cardinal Energy Cuts Dividend

The firm also recently announced a dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a $0.0428 dividend. The ex-dividend date was Friday, November 28th. This represents a dividend yield of 807.0%. Cardinal Energy’s dividend payout ratio is presently 8.93%.

About Cardinal Energy

Cardinal Energy Ltd. (OTCMKTS: CRLFF) is a Canada-based upstream oil and gas company focused on the exploration, development and production of conventional hydrocarbon resources in Western Canada. Founded in 2009 and headquartered in Calgary, Alberta, Cardinal Energy targets mature resource plays in Alberta and Saskatchewan, with a core asset base in the Cardium and Mannville formations as well as shallow natural gas zones.

The company pursues a disciplined growth strategy grounded in low-cost drilling, optimized well design and efficient operations.