Kenneth Cory Lee Younger Sells 25,000 Shares of Cardinal Energy (TSE:CJ) Stock

Cardinal Energy Ltd. (TSE:CJ) insider Kenneth Cory Lee Younger sold 25,000 shares of the company’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 transaction of C$316,000.00. Following the transaction, the insider owned 129,338 shares in the company, valued at C$1,634,832.32. The trade was a 16.20% decrease in their ownership of the stock.

Cardinal Energy Price Performance

Shares of CJ stock opened at C$12.80 on Thursday. Cardinal Energy Ltd. has a 1 year low of C$6.07 and a 1 year high of C$13.38. The firm’s 50 day moving average is C$11.51 and its 200-day moving average is C$9.88. The firm has a market capitalization of C$2.24 billion, a price-to-earnings ratio of 213.33, a PEG ratio of -0.26 and a beta of 0.26. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 18.36.

Cardinal Energy (TSE:CJ) last announced its earnings results on Thursday, March 12th. The company reported C($0.18) earnings per share (EPS) for the quarter. Cardinal Energy had a return on equity of 1.14% and a net margin of 2.09%.The company had revenue of C$109.19 million for the quarter. Sell-side analysts forecast that Cardinal Energy Ltd. will post 0.625118 EPS for the current fiscal year.

Cardinal Energy Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 15th will be issued a $0.06 dividend. This represents a c) annualized dividend and a yield of 5.6%. The ex-dividend date is Friday, May 29th. Cardinal Energy’s dividend payout ratio is currently 1,200.00%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CJ. Raymond James Financial upgraded shares of Cardinal Energy from a “hold” rating to a “moderate buy” rating and increased their price objective for the company from C$9.50 to C$13.00 in a report on Monday, March 30th. Royal Bank Of Canada increased their price objective on shares of Cardinal Energy from C$9.50 to C$11.00 and gave the company an “outperform” rating in a report on Monday, March 16th. Canadian Imperial Bank of Commerce upgraded shares of Cardinal Energy from a “hold” rating to a “strong-buy” rating and increased their price objective for the company from C$7.75 to C$11.00 in a report on Thursday, February 5th. Finally, BMO Capital Markets upgraded shares of Cardinal Energy from a “hold” rating to an “outperform” rating and set a C$13.00 price objective on the stock in a report on Tuesday, April 7th. 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.com, the stock currently has a consensus rating of “Buy” and an average price target of C$12.00.

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.