Cardinal Energy (TSE:CJ) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Cardinal Energy Ltd. (TSE:CJ)’s stock price passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of C$11.36 and traded as low as C$11.03. Cardinal Energy shares last traded at C$11.03, with a volume of 1,880,710 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CJ. Raymond James Financial upgraded Cardinal Energy from a “hold” rating to a “moderate buy” rating and boosted their price target for the company from C$12.00 to C$15.00 in a research note on Wednesday, September 16th. Royal Bank Of Canada cut shares of Cardinal Energy from a “moderate buy” rating to a “hold” rating and increased their price objective for the stock from C$14.00 to C$14.50 in a research note on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Cardinal Energy has a consensus rating of “Buy” and a consensus target price of C$13.38.

Cardinal Energy Stock Down 3.8%

The company has a debt-to-equity ratio of 13.97, a current ratio of 0.63 and a quick ratio of 0.67. The firm has a market capitalization of C$1.94 billion, a P/E ratio of 31.51, a P/E/G ratio of -0.26 and a beta of 0.28. The company’s 50-day simple moving average is C$12.51 and its two-hundred day simple moving average is C$11.36.

Cardinal Energy Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 16th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, October 30th. This represents a $0.72 annualized dividend and a yield of 6.5%. Cardinal Energy’s payout ratio is 205.71%.

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.