Cardinal Energy (TSE:CJ) Trading Up 10.6% – Should You Buy?

Cardinal Energy Ltd. (TSE:CJ)’s stock price was up 10.6% during trading on Thursday . The stock traded as high as C$6.19 and last traded at C$6.15. Approximately 1,326,587 shares were traded during mid-day trading, an increase of 72% from the average daily volume of 771,058 shares. The stock had previously closed at C$5.56.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CJ shares. CIBC reduced their price objective on Cardinal Energy from C$8.00 to C$7.00 in a research note on Thursday, April 10th. BMO Capital Markets boosted their price target on Cardinal Energy from C$7.00 to C$7.50 in a report on Tuesday, January 14th. Atb Cap Markets cut shares of Cardinal Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada raised shares of Cardinal Energy from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$7.00 to C$7.50 in a report on Thursday.

Cardinal Energy Stock Performance

The company has a market capitalization of C$988.02 million, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of -0.26 and a beta of 2.81. The firm has a fifty day simple moving average of C$6.15 and a 200 day simple moving average of C$6.37. The company has a debt-to-equity ratio of 8.05, a current ratio of 0.50 and a quick ratio of 0.67.

Cardinal Energy Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 15th will be issued a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 11.63%. The ex-dividend date is Wednesday, April 30th. Cardinal Energy’s payout ratio is presently 111.27%.

Insider Buying and Selling at Cardinal Energy

In other Cardinal Energy news, Director M. Scott Ratushny purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, April 10th. The shares were purchased at an average cost of C$5.00 per share, with a total value of C$50,000.00. Also, Director John Albert Brussa acquired 30,000 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average cost of C$5.42 per share, with a total value of C$162,600.00. Insiders own 23.38% of the company’s stock.

Cardinal Energy Company Profile

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.