Insider Buying: Cardinal Energy Ltd. (TSE:CJ) Director Acquires 10,000 Shares

Director M. Scott Ratushny of Cardinal Energy Ltd. (TSE:CJ) made a significant investment by purchasing 10,000 shares of the company's stock on Friday, December 20th. The shares were acquired at an average price of C$6.12 each, resulting in a total investment of C$61,160.00.

Overview of Cardinal Energy Stock Performance

On the day of the purchase, Cardinal Energy shares opened at C$6.11. Over the past year, the stock has experienced fluctuations, reaching a low of C$5.98 and a high of C$7.38. The company’s financial ratios indicate a debt-to-equity ratio of 9.04, a current ratio of 0.73, and a quick ratio of 0.67. Additionally, the fifty-day simple moving average stands at C$6.44, while the two-hundred-day simple moving average is at C$6.62. Cardinal Energy holds a market capitalization of C$972.59 million and has a price-to-earnings (P/E) ratio of 8.37.

Recent Dividend Announcement

Cardinal Energy also announced a monthly dividend, which was paid out on Monday, December 16th. Investors who were recorded on Friday, November 29th received a dividend of $0.06 per share. This translates to an annualized dividend of $0.72, yielding approximately 11.78%. The ex-dividend date for this payment was November 29th, and currently, the company's dividend payout ratio is pegged at 98.63%.

Analyst Insights on Cardinal Energy Stock

Recent comments from various equity research analysts highlight the outlook on Cardinal Energy shares. BMO Capital Markets lowered their price target from C$7.50 to C$7.00 in a report released on October 4th. Similarly, CIBC adjusted their target down from C$8.75 to C$8.00 on November 8th. Furthermore, Royal Bank of Canada also revised their price target for Cardinal Energy from C$8.00 to C$7.00 in a report issued on September 17th.

About Cardinal Energy Ltd.

Founded in 2010 and headquartered in Calgary, Canada, Cardinal Energy Ltd. focuses on the acquisition, development, optimization, and production of petroleum and natural gas across Alberta, British Columbia, and Saskatchewan.

insider, buying, stocks