Cardinal Energy (OTCMKTS:CRLFF) Trading 0.9% Higher – Here’s What Happened

Cardinal Energy Ltd. (OTCMKTS:CRLFF) shares shot up 0.9% on Thursday . The stock traded as high as $7.3210 and last traded at $7.24. 14,976 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 61,239 shares. The stock had previously closed at $7.1750.

Analyst Upgrades and Downgrades

CRLFF has been the subject of several research reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of Cardinal Energy in a research report on Thursday, February 5th. Canadian Imperial Bank of Commerce raised shares of Cardinal Energy from a “neutral” rating to an “outperform” rating in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Cardinal Energy Stock Up 0.3%

The company’s fifty day moving average price is $6.51 and its 200-day moving average price is $6.00.

Cardinal Energy Cuts Dividend

The firm also recently announced a dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a dividend of $0.0428 per share. This represents a dividend yield of 807.0%. The ex-dividend date was Friday, November 28th. Cardinal Energy’s payout ratio is 8.93%.

About Cardinal Energy

Cardinal Energy Ltd. (OTCMKTS: CRLFF) is a Canada-based upstream oil and gas company focused on the exploration, development and production of conventional hydrocarbon resources in Western Canada. Founded in 2009 and headquartered in Calgary, Alberta, Cardinal Energy targets mature resource plays in Alberta and Saskatchewan, with a core asset base in the Cardium and Mannville formations as well as shallow natural gas zones.

The company pursues a disciplined growth strategy grounded in low-cost drilling, optimized well design and efficient operations.