Cardinal Energy (TSE:CJ) Stock Price Crosses Below 200-Day Moving Average – What’s Next?

Cardinal Energy Ltd. (TSE:CJ)’s stock price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$11.36 and traded as low as C$11.03. Cardinal Energy shares last traded at C$11.03, with a volume of 1,880,710 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CJ shares. Royal Bank Of Canada lowered shares of Cardinal Energy from a “moderate buy” rating to a “hold” rating and increased their target price for the stock from C$14.00 to C$14.50 in a report on Tuesday, October 13th. Raymond James Financial raised shares of Cardinal Energy from a “hold” rating to a “moderate buy” rating and lifted their price target for the company from C$12.00 to C$15.00 in a report on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$13.38.

Cardinal Energy Stock Performance

The company has a current ratio of 0.63, a quick ratio of 0.67 and a debt-to-equity ratio of 13.97. The business’s 50 day moving average is C$12.51 and its two-hundred day moving average is C$11.36. The company has a market cap of C$1.94 billion, a PE ratio of 31.51, a PEG ratio of -0.26 and a beta of 0.28.

Cardinal Energy Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 16th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $0.72 dividend on an annualized basis and a yield of 6.5%. Cardinal Energy’s dividend payout ratio (DPR) is currently 205.71%.

About Cardinal Energy

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.