Cardinal Energy Ltd (CJ) Given Average Recommendation of “Buy” by Analysts
Shares of Cardinal Energy Ltd (TSE:CJ) have been given a consensus rating of “Buy” by the eight research firms that are currently covering the company. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$11.25.
CJ has been the topic of several research analyst reports. Dundee Securities increased their target price on shares of Cardinal Energy from C$10.50 to C$11.00 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Scotiabank reissued an “outperform” rating and set a C$12.00 target price on shares of Cardinal Energy in a research note on Wednesday, August 3rd. Finally, TD Securities restated a “buy” rating and set a C$11.50 price objective on shares of Cardinal Energy in a report on Wednesday, August 3rd.
Shares of Cardinal Energy (TSE:CJ) traded up 3.49% on Wednesday, hitting $9.79. 586,074 shares of the stock were exchanged. Cardinal Energy has a 1-year low of $5.59 and a 1-year high of $11.57. The stock’s 50-day moving average is $8.43 and its 200-day moving average is $9.12. The stock’s market cap is $719.53 million.
The company also recently announced a monthly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 15th will be issued a $0.035 dividend. The ex-dividend date is Thursday, October 27th. This represents a $0.42 annualized dividend and a dividend yield of 4.44%.
In other news, insider Tim Hyde sold 25,000 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of C$8.68, for a total value of C$217,000.00.
About Cardinal Energy
Cardinal Energy Ltd. is a Canada-based oil-focused company. The Company is engaged in the acquisition, exploration and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan. Its Wainwright properties are located approximately 200 kilometers southeast of Edmonton, Alberta.
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