Insider Buying: Cardinal Energy (TSE:CJ) Insider Acquires C$12,290.00 in Stock

Cardinal Energy Ltd. (TSE:CJ) insider Heath Williamson acquired 1,000 shares of Cardinal Energy stock in a transaction that occurred on Monday, May 25th. The stock was acquired at an average cost of C$12.29 per share, for a total transaction of C$12,290.00. Following the completion of the purchase, the insider directly owned 8,745 shares of the company’s stock, valued at C$107,476.05. This represents a 12.91% increase in their ownership of the stock.

Cardinal Energy Price Performance

Cardinal Energy stock opened at C$11.75 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 18.36. The company has a market capitalization of C$2.06 billion, a PE ratio of 195.83, a P/E/G ratio of -0.26 and a beta of 0.26. Cardinal Energy Ltd. has a 12 month low of C$6.12 and a 12 month high of C$13.38. The stock has a 50-day moving average price of C$11.69 and a two-hundred day moving average price of C$10.03.

Cardinal Energy (TSE:CJ) last posted its earnings results on Thursday, March 12th. The company reported C($0.18) EPS for the quarter. The firm had revenue of C$109.19 million during the quarter. Cardinal Energy had a net margin of 2.09% and a return on equity of 1.14%. Analysts expect that Cardinal Energy Ltd. will post 0.625118 EPS for the current year.

Cardinal Energy Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 15th will be given a $0.06 dividend. The ex-dividend date is Friday, May 29th. This represents a c) annualized dividend and a yield of 6.1%. Cardinal Energy’s dividend payout ratio (DPR) is currently 1,200.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Canadian Imperial Bank of Commerce upgraded Cardinal Energy from a “hold” rating to a “strong-buy” rating and increased their target price for the company from C$7.75 to C$11.00 in a research report on Thursday, February 5th. Raymond James Financial upgraded Cardinal Energy from a “hold” rating to a “moderate buy” rating and increased their target price for the company from C$9.50 to C$13.00 in a research report on Monday, March 30th. BMO Capital Markets upgraded Cardinal Energy from a “hold” rating to an “outperform” rating and set a C$13.00 target price for the company in a research report on Tuesday, April 7th. Finally, Royal Bank Of Canada increased their target price on Cardinal Energy from C$9.50 to C$11.00 and gave the company an “outperform” rating in a research report on Monday, March 16th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$12.00.

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.