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

Cardinal Energy Ltd. (TSE:CJ) made an announcement regarding its monthly dividend on Friday, February 28th. Shareholders who are on the record list by Monday, March 17th, will receive a dividend of $0.06 per share. This amount reflects an annualized dividend of $0.72, which corresponds to a yield of 11.03%. It is important to note that the ex-dividend date is set for Friday, February 28th.

Recent Stock Performance

On Wednesday, shares of Cardinal Energy (TSE:CJ) saw an increase of 0.8%, trading up by C$0.05 to reach C$6.53. The trading volume for the day was 198,655 shares, which is lower than the average volume of 643,369 shares. Currently, Cardinal Energy has recorded a 12-month low of C$5.98 and a 12-month high of C$7.38. The company reports a quick ratio of 0.67, a current ratio of 0.50, and a notable debt-to-equity ratio of 8.05. The 50-day moving average is C$6.50, and the 200-day moving average is C$6.53, with a total market capitalization of C$1.04 billion. The stock has a price-to-earnings (P/E) ratio of 10.09 and a P/E/G ratio of -0.26. Its beta is recorded at 2.81.

Insider Activity at Cardinal Energy

In related insider activity, Kenneth Cory Lee Younger, a senior officer, sold 12,000 shares on January 15th at an average price of C$6.90, totaling C$82,800. Meanwhile, director John Festival bought 75,000 shares on December 23rd at an average price of C$6.20, amounting to C$465,000. Notably, insiders own about 23.38% of Cardinal Energy’s stock.

Analyst Ratings and Price Targets

Recent reports from analysts have brought some changes to their ratings on Cardinal Energy. ATB Capital Markets downgraded their rating from "strong buy" to "hold" as of January 30th. Additionally, CIBC revised their target price downward from C$8.75 to C$8.00 in November. Conversely, BMO Capital Markets increased their target price from C$7.00 to C$7.50 in a report on January 14th.

Company Overview

Cardinal Energy Ltd. is primarily engaged in the acquisition, development, optimization, and production of petroleum and natural gas in Canada, specifically focusing on the provinces of Alberta, British Columbia, and Saskatchewan. The company was founded in 2010 and is based in Calgary, Canada.

Conclusion

Investors should consider these developments regarding Cardinal Energy’s dividend and stock performance as part of their broader financial strategies.

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