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 10.99%. The ex-dividend date is Friday, February 28th.

Cardinal Energy Price Performance

Cardinal Energy stock traded up C$0.07 during midday trading on Wednesday, reaching C$6.55. The company’s stock had a trading volume of 204,365 shares, compared to its average volume of 643,882. Cardinal Energy has a 52 week low of C$5.98 and a 52 week high of C$7.38. The stock has a market cap of C$1.05 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of -0.26 and a beta of 2.81. The company has a current ratio of 0.50, a quick ratio of 0.67 and a debt-to-equity ratio of 8.05. The business has a 50-day moving average price of C$6.50 and a 200-day moving average price of C$6.53.

Insider Buying and Selling at Cardinal Energy

In related news, Director M. Scott Ratushny bought 10,000 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was acquired at an average cost of C$6.12 per share, for a total transaction of C$61,160.00. Also, Senior Officer Kenneth Cory Lee Younger sold 12,000 shares of Cardinal Energy stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of C$6.90, for a total transaction of C$82,800.00. Corporate insiders own 23.38% of the company’s stock.

Analysts Set New Price Targets

CJ has been the subject of a number of recent research reports. BMO Capital Markets boosted their price target on shares of Cardinal Energy from C$7.00 to C$7.50 in a research note on Tuesday, January 14th. Atb Cap Markets lowered Cardinal Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 30th. Finally, CIBC lowered their price target on Cardinal Energy from C$8.75 to C$8.00 in a research report on Friday, November 8th.

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.