Shares of Cardinal Energy Ltd. (TSE:CJ – Get Free Report) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$6.75 and traded as low as C$6.40. Cardinal Energy shares last traded at C$6.43, with a volume of 265,210 shares.
Analyst Ratings Changes
CJ has been the topic of several research analyst reports. CIBC raised their target price on shares of Cardinal Energy from C$8.50 to C$8.75 in a report on Monday, July 15th. BMO Capital Markets dropped their target price on shares of Cardinal Energy from C$7.50 to C$7.00 in a report on Friday, October 4th. Finally, Royal Bank of Canada dropped their target price on shares of Cardinal Energy from C$8.00 to C$7.00 in a report on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$7.95.
Check Out Our Latest Stock Analysis on CJ
Cardinal Energy Stock Up 0.3 %
Cardinal Energy Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.72 annualized dividend and a dividend yield of 11.20%. Cardinal Energy’s dividend payout ratio is currently 98.63%.
Insider Transactions at Cardinal Energy
In other Cardinal Energy news, Director John Albert Brussa purchased 6,400 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was bought at an average cost of C$6.40 per share, with a total value of C$40,960.00. Company insiders own 23.38% of the company’s stock.
About Cardinal Energy
Cardinal Energy Ltd. engages in the acquisition, development, optimization, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Cardinal Energy Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.
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