Cardinal Energy (TSE:CJ) Insider Sells C$316,000.00 in Stock

Cardinal Energy Ltd. (TSE:CJ) insider Kenneth Cory Lee Younger sold 25,000 shares of Cardinal Energy stock in a transaction on Friday, May 15th. The shares were sold at an average price of C$12.64, for a total transaction of C$316,000.00. Following the completion of the transaction, the insider owned 129,338 shares in the company, valued at approximately C$1,634,832.32. This represents a 16.20% decrease in their ownership of the stock.

Cardinal Energy Trading Down 1.3%

TSE CJ opened at C$12.63 on Friday. The company has a debt-to-equity ratio of 18.36, a quick ratio of 0.67 and a current ratio of 0.69. The firm has a market cap of C$2.21 billion, a PE ratio of 210.50, a P/E/G ratio of -0.26 and a beta of 0.26. Cardinal Energy Ltd. has a one year low of C$6.07 and a one year high of C$13.38. The firm’s fifty day moving average is C$11.56 and its two-hundred day moving average is C$9.92.

Cardinal Energy (TSE:CJ) last posted its quarterly earnings data on Thursday, March 12th. The company reported C($0.18) EPS for the quarter. The business 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%. Analysts expect that Cardinal Energy Ltd. will post 0.625118 earnings per share for the current year.

Cardinal Energy Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 5.7%. Cardinal Energy’s payout ratio is currently 1,200.00%.

Analyst Upgrades and Downgrades

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