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

Cardinal Energy Ltd. (TSE:CJ) announced a monthly dividend on Friday, February 28th. Shareholders who are recorded by Monday, March 17th will receive a dividend of $0.06 per share on that date. This translates to an annualized dividend of $0.72, yielding an impressive 11.03%. The ex-dividend date for this dividend is set for Friday, February 28th.

Recent Stock Performance

On Wednesday, shares of Cardinal Energy traded up by C$0.05, reaching C$6.53. The trading volume for the day was 198,655 shares, which is below the average volume of 643,369 shares. Over the past year, Cardinal Energy's stock has seen a low of C$5.98 and a high of C$7.38. Key financial ratios include a quick ratio of 0.67, a current ratio of 0.50, and a debt-to-equity ratio of 8.05. The 50-day moving average is C$6.50, while the 200-day moving average stands at C$6.53. The company's market capitalization is approximately C$1.04 billion, with a price-to-earnings (P/E) ratio of 10.09 and a P/E to growth (P/E/G) ratio of -0.26.

Insider Transactions

In recent news related to insider transactions, Senior Officer Kenneth Cory Lee Younger sold 12,000 shares on January 15th at an average price of C$6.90, totaling C$82,800. Additionally, Director John Festival acquired 75,000 shares on December 23rd at an average price of C$6.20, amounting to C$465,000. Currently, company insiders own about 23.38% of Cardinal Energy's stock.

Analysts' Opinions

Recently, several analysts have updated their ratings for Cardinal Energy. ATB Capital Markets downgraded its rating from “strong-buy” to “hold” as of January 30th. CIBC adjusted its target price for the stock down from C$8.75 to C$8.00 in a report earlier in November. Conversely, BMO Capital Markets raised their target price from C$7.00 to C$7.50 in January.

About Cardinal Energy

Cardinal Energy Ltd. is involved in the acquisition, development, optimization, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. The company was established in 2010 and is based in Calgary, Canada.

Conclusion

Cardinal Energy continues to show strength in its dividend offerings amidst a landscape of fluctuating stock performance. With solid annual yields and ongoing insider investments, investors may find the company appealing.

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