Cardinal Energy Ltd. (TSE:CJ) to Issue Monthly Dividend of $0.06

Cardinal Energy Ltd. (TSE:CJ) announced a monthly dividend on Friday, February 28th, TickerTech Dividends reports. Investors of record on Monday, March 17th will be given a dividend of 0.06 per share on Monday, March 17th. This represents a $0.72 annualized dividend and a yield of 11.03%. The ex-dividend date of this dividend is Friday, February 28th.

Cardinal Energy Price Performance

Shares of TSE CJ traded up C$0.05 during midday trading on Wednesday, reaching C$6.53. The stock had a trading volume of 198,655 shares, compared to its average volume of 643,369. The company has a market capitalization of C$1.04 billion, a price-to-earnings ratio of 10.09, a price-to-earnings-growth ratio of -0.26 and a beta of 2.81. Cardinal Energy has a 12-month low of C$5.98 and a 12-month high of C$7.38. The stock has a 50-day moving average of C$6.50 and a 200-day moving average of C$6.53. The company has a debt-to-equity ratio of 8.05, a quick ratio of 0.67 and a current ratio of 0.50.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Cardinal Energy

In other news, Director John Festival acquired 75,000 shares of Cardinal Energy stock in a transaction on Monday, December 23rd. The shares were acquired at an average price of C$6.20 per share, with a total value of C$465,000.00. Also, Senior Officer Kenneth Cory Lee Younger sold 12,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of C$6.90, for a total value of C$82,800.00. 23.38% of the stock is currently owned by insiders.

Cardinal Energy Company Profile

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.