Cardinal Energy (TSE:CJ) Reaches New 52-Week Low – Should You Sell?

Cardinal Energy Ltd. (TSE:CJ) shares hit a new 52-week low on Monday . The company traded as low as C$0.00 and last traded at C$6.36, with a volume of 258676 shares. The stock had previously closed at C$6.42.

Wall Street Analyst Weigh In

Several research firms have issued reports on CJ. CIBC cut their price target on shares of Cardinal Energy from C$8.75 to C$8.00 in a research report on Friday, November 8th. Atb Cap Markets cut shares of Cardinal Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 30th. Finally, BMO Capital Markets increased their price target on shares of Cardinal Energy from C$7.00 to C$7.50 in a research note on Tuesday, January 14th.

Cardinal Energy Stock Down 4.7 %

The company has a 50 day moving average price of C$6.52 and a two-hundred day moving average price of C$6.53. The stock has a market cap of C$976.84 million, a PE ratio of 9.46, a PEG ratio of -0.26 and a beta of 2.81. 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 Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 17th will be given a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 11.76%. The ex-dividend date of this dividend is Friday, February 28th. Cardinal Energy’s dividend payout ratio (DPR) is presently 111.27%.

Insider Activity

In related news, Director M. Scott Ratushny bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average price of C$6.12 per share, for a total transaction of C$61,160.00. Also, Director John Festival purchased 75,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of C$6.20 per share, with a total value of C$465,000.00. Insiders own 23.38% of the company’s stock.

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.