Cardinal Energy (TSE:CJ) Stock Price Crosses Above 50 Day Moving Average – Here’s What Happened

Shares of Cardinal Energy Ltd. (TSE:CJ) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$7.40 and traded as high as C$7.85. Cardinal Energy shares last traded at C$7.84, with a volume of 536,997 shares.

Wall Street Analyst Weigh In

Separately, Raymond James Financial upgraded shares of Cardinal Energy to a “hold” rating in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Cardinal Energy presently has an average rating of “Hold” and a consensus price target of C$7.33.

Cardinal Energy Stock Performance

The company’s 50 day moving average price is C$7.40 and its 200-day moving average price is C$6.70. The company has a debt-to-equity ratio of 8.05, a quick ratio of 0.67 and a current ratio of 0.50. The company has a market cap of C$1.26 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of -0.26 and a beta of 0.69.

Cardinal Energy Dividend Announcement

The firm also recently disclosed a sep 25 dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 15th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a yield of 960.0%. Cardinal Energy’s dividend payout ratio (DPR) is 130.91%.

Insider Activity at Cardinal Energy

In other Cardinal Energy news, Director John Albert Brussa acquired 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was bought at an average cost of C$7.30 per share, with a total value of C$109,500.00. Following the acquisition, the director owned 653,600 shares in the company, valued at approximately C$4,771,280. This represents a 2.35% increase in their ownership of the stock. Also, Director M. Scott Ratushny acquired 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was acquired at an average cost of C$7.25 per share, with a total value of C$108,750.00. Following the completion of the acquisition, the director owned 2,988,256 shares in the company, valued at C$21,664,856. This trade represents a 0.50% increase in their position. Over the last ninety days, insiders purchased 33,500 shares of company stock valued at $244,005. 23.38% of the stock is owned by insiders.

About Cardinal Energy

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.