Insider Buying: Director of Cardinal Energy Ltd. Acquires 10,000 Shares

On December 20th, M. Scott Ratushny, a director at Cardinal Energy Ltd. (TSE:CJ), purchased 10,000 shares of the company’s stock. The acquisition was made at an average price of C$6.12 per share, culminating in a total cost of C$61,160.00 for the transaction.

Overview of Cardinal Energy Stock

On the day of the purchase, Cardinal Energy's stock opened at C$6.11. Over the past year, the stock has seen a low of C$5.98 and a high of C$7.38. Financial indicators for Cardinal Energy include a debt-to-equity ratio of 9.04, a current ratio of 0.73, and a quick ratio of 0.67. The average price of the stock over the last fifty days sits at C$6.44, while the two-hundred day simple moving average is C$6.62. With a market capitalization of approximately C$972.59 million, the company has a P/E ratio of 8.37 and a P/E/G ratio of -0.26, all accompanied by a beta of 2.81.

Dividend Information

Cardinal Energy has also recently announced a monthly dividend. This dividend was paid out on December 16th to shareholders recorded as of November 29th. Each investor received a dividend of $0.06, translating to an annualized dividend of $0.72, which equates to a yield of 11.78%. The ex-dividend date was also on November 29th, indicating that the current dividend payout ratio stands at 98.63%.

Analyst Ratings and Price Targets

Several equity research analysts have revised their price targets for Cardinal Energy shares. BMO Capital Markets lowered its target from C$7.50 to C$7.00 on October 4th. CIBC also cut its price target, moving it down from C$8.75 to C$8.00 in a report dated November 8th. Furthermore, the Royal Bank of Canada adjusted its target price, reducing it from C$8.00 to C$7.00 on September 17th.

About Cardinal Energy Ltd.

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

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