Insider Buying at Cardinal Energy Ltd. (TSE:CJ)

Cardinal Energy Ltd. (TSE:CJ) has seen insider activity recently, with Director M. Scott Ratushny purchasing 10,000 shares of the company on Friday, December 20th. The shares were acquired at an average price of C$6.12, resulting in a total investment of C$61,160.00.

Cardinal Energy Stock Performance

On the day of the transaction, TSE:CJ opened at C$6.11. Over the past year, Cardinal Energy has experienced a low of C$5.98 and a high of C$7.38. The company's financial metrics show a debt-to-equity ratio of 9.04, a current ratio of 0.73, and a quick ratio of 0.67. The fifty-day simple moving average for the stock is C$6.44, while the two-hundred-day simple moving average stands at C$6.62. Cardinal Energy has a market capitalization of C$972.59 million and a price-to-earnings (P/E) ratio of 8.37, alongside a P/E/G ratio of -0.26. Additionally, the stock has a beta value of 2.81, indicating a higher volatility compared to the market.

Cardinal Energy Dividend Announcement

In addition to the recent insider buying, Cardinal Energy announced the payment of a monthly dividend. On Monday, December 16th, the company paid a dividend of $0.06 per share to investors who were on record as of Friday, November 29th. This translates to an annualized dividend of $0.72 per share, resulting in a dividend yield of 11.78%. The ex-dividend date was also on November 29th, and the current dividend payout ratio is approximately 98.63%.

Analysts Set New Price Targets

Several analysts have recently provided their insights regarding Cardinal Energy's stock performance. BMO Capital Markets adjusted their price target for Cardinal Energy from C$7.50 to C$7.00 in a report dated October 4th. Similarly, CIBC reduced their price target from C$8.75 to C$8.00 as of November 8th. Lastly, the Royal Bank of Canada also lowered its target price from C$8.00 to C$7.00 on September 17th.

About Cardinal Energy

Cardinal Energy Ltd. is engaged in the acquisition, development, optimization, and production of petroleum and natural gas, primarily in the Canadian provinces of Alberta, British Columbia, and Saskatchewan. Founded in 2010, the company is based in Calgary, Canada.

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