Cardinal Energy (TSE:CJ) Insider Buys C$12,290.00 in Stock

Cardinal Energy Ltd. (TSE:CJ) insider Heath Williamson acquired 1,000 shares of Cardinal Energy stock in a transaction that occurred on Monday, May 25th. The shares were purchased at an average price of C$12.29 per share, for a total transaction of C$12,290.00. Following the completion of the purchase, the insider directly owned 8,745 shares of the company’s stock, valued at C$107,476.05. The trade was a 12.91% increase in their ownership of the stock.

Cardinal Energy Stock Performance

CJ stock traded down C$0.51 during mid-day trading on Monday, reaching C$12.07. The company had a trading volume of 988,181 shares, compared to its average volume of 1,384,711. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 18.36. The stock has a market capitalization of C$2.12 billion, a P/E ratio of 201.17, a P/E/G ratio of -0.26 and a beta of 0.26. Cardinal Energy Ltd. has a one year low of C$6.12 and a one year high of C$13.38. The stock’s 50-day simple moving average is C$11.63 and its two-hundred day simple moving average is C$9.98.

Cardinal Energy (TSE:CJ) last posted its earnings results on Thursday, March 12th. The company reported C($0.18) earnings per share (EPS) for the quarter. The company had revenue of C$109.19 million during the quarter. Cardinal Energy had a net margin of 2.09% and a return on equity of 1.14%. 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. Shareholders of record on Monday, June 15th will be paid a $0.06 dividend. This represents a c) dividend on an annualized basis and a yield of 6.0%. The ex-dividend date is Friday, May 29th. Cardinal Energy’s dividend payout ratio (DPR) is presently 1,200.00%.

Wall Street Analyst Weigh In

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

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.