Cardinal Energy Ltd. (TSE:CJ – Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$6.70 and traded as low as C$6.48. Cardinal Energy shares last traded at C$6.54, with a volume of 558,566 shares.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. CIBC cut their price objective on shares of Cardinal Energy from C$8.75 to C$8.00 in a report on Friday, November 8th. BMO Capital Markets decreased their price target on shares of Cardinal Energy from C$7.50 to C$7.00 in a research note on Friday, October 4th. Finally, Royal Bank of Canada cut their price objective on Cardinal Energy from C$8.00 to C$7.00 in a research report on Tuesday, September 17th.
Check Out Our Latest Stock Report on Cardinal Energy
Cardinal Energy Stock Up 1.1 %
Cardinal Energy Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.72 annualized dividend and a dividend yield of 10.70%. Cardinal Energy’s dividend payout ratio (DPR) is presently 98.63%.
Insider Activity at Cardinal Energy
In related news, Director John Albert Brussa purchased 6,400 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were purchased at an average cost of C$6.40 per share, for a total transaction of C$40,960.00. Also, Director John Festival acquired 50,050 shares of the stock in a transaction on Monday, November 11th. The stock was bought at an average cost of C$6.20 per share, with a total value of C$310,310.00. In the last ninety days, insiders have bought 59,050 shares of company stock worth $367,518. 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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