Insider Buying: Cardinal Energy Ltd. (TSE:CJ) Director Purchases 10,000 Shares of Stock

Cardinal Energy Ltd. (TSE:CJ) Director M. Scott Ratushny bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average cost of C$6.12 per share, for a total transaction of C$61,160.00.

Cardinal Energy Stock Performance

TSE:CJ opened at C$6.11 on Friday. Cardinal Energy Ltd. has a 1 year low of C$5.98 and a 1 year high of C$7.38. The company has a debt-to-equity ratio of 9.04, a current ratio of 0.73 and a quick ratio of 0.67. The business has a fifty day simple moving average of C$6.44 and a two-hundred day simple moving average of C$6.62. The company has a market capitalization of C$972.59 million, a P/E ratio of 8.37, a P/E/G ratio of -0.26 and a beta of 2.81.

Cardinal Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 11.78%. The ex-dividend date of this dividend was Friday, November 29th. Cardinal Energy’s dividend payout ratio is currently 98.63%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CJ shares. BMO Capital Markets decreased their price objective on Cardinal Energy from C$7.50 to C$7.00 in a report on Friday, October 4th. CIBC dropped their price objective on shares of Cardinal Energy from C$8.75 to C$8.00 in a research note on Friday, November 8th. Finally, Royal Bank of Canada decreased their target price on shares of Cardinal Energy from C$8.00 to C$7.00 in a research report on Tuesday, September 17th.

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.