Cardinal Energy (OTCMKTS:CRLFF) Trading Up 0.9% – Here’s Why

Cardinal Energy Ltd. (OTCMKTS:CRLFF)’s share price rose 0.9% during trading on Thursday . The company traded as high as $7.3210 and last traded at $7.24. Approximately 14,976 shares were traded during trading, a decline of 76% from the average daily volume of 61,239 shares. The stock had previously closed at $7.1750.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CRLFF. Canadian Imperial Bank of Commerce raised Cardinal Energy from a “neutral” rating to an “outperform” rating in a research note on Wednesday, February 4th. Royal Bank Of Canada restated an “outperform” rating on shares of Cardinal Energy in a report on Thursday, February 5th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Cardinal Energy Trading Up 0.9%

The company has a fifty day moving average price of $6.49 and a two-hundred day moving average price of $5.98.

Cardinal Energy Cuts Dividend

The business also recently disclosed a dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $0.0428 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a yield of 807.0%. Cardinal Energy’s payout ratio is 8.93%.

About Cardinal Energy

Cardinal Energy Ltd. (OTCMKTS: CRLFF) is a Canada-based upstream oil and gas company focused on the exploration, development and production of conventional hydrocarbon resources in Western Canada. Founded in 2009 and headquartered in Calgary, Alberta, Cardinal Energy targets mature resource plays in Alberta and Saskatchewan, with a core asset base in the Cardium and Mannville formations as well as shallow natural gas zones.

The company pursues a disciplined growth strategy grounded in low-cost drilling, optimized well design and efficient operations.