Insider Buying: Cardinal Energy Ltd. (TSE:CJ) Director Acquires 75,000 Shares of Stock

Cardinal Energy Ltd. (TSE:CJ) Director John Festival bought 75,000 shares of Cardinal Energy stock in a transaction on Monday, December 23rd. The stock was purchased at an average price of C$6.20 per share, for a total transaction of C$465,000.00.

John Festival also recently made the following trade(s):

• On Monday, November 11th, John Festival acquired 50,050 shares of Cardinal Energy stock. The stock was purchased at an average cost of C$6.20 per share, with a total value of C$310,310.00.

Cardinal Energy Stock Up 1.0 %

TSE CJ traded up C$0.06 on Tuesday, reaching C$6.32. The company had a trading volume of 248,622 shares, compared to its average volume of 649,587. The company has a debt-to-equity ratio of 9.04, a current ratio of 0.73 and a quick ratio of 0.67. Cardinal Energy Ltd. has a 1 year low of C$5.98 and a 1 year high of C$7.38. The firm has a 50-day moving average of C$6.43 and a 200-day moving average of C$6.61. The firm has a market capitalization of C$1.01 billion, a PE ratio of 8.66, a P/E/G ratio of -0.26 and a beta of 2.81.

Cardinal Energy Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 11.39%. The ex-dividend date was Friday, November 29th. Cardinal Energy’s payout ratio is 98.63%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CJ. Royal Bank of Canada decreased their price objective on Cardinal Energy from C$8.00 to C$7.00 in a report on Tuesday, September 17th. CIBC dropped their target price on shares of Cardinal Energy from C$8.75 to C$8.00 in a research report on Friday, November 8th. Finally, BMO Capital Markets decreased their price objective on shares of Cardinal Energy from C$7.50 to C$7.00 in a research note on Friday, October 4th.

Cardinal Energy Company Profile

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.