TD Securities Reiterates Buy Rating for Cardinal Energy Ltd (CJ)
Cardinal Energy Ltd (TSE:CJ)‘s stock had its “buy” rating reaffirmed by stock analysts at TD Securities in a note issued to investors on Wednesday. They currently have a C$11.50 price target on the stock. TD Securities’ price objective would suggest a potential upside of 31.28% from the company’s previous close.
Several other research analysts have also recently commented on the company. Scotiabank reissued an “outperform” rating and set a C$12.00 price target on shares of Cardinal Energy in a research report on Tuesday. Royal Bank Of Canada reissued an “outperform” rating and set a C$12.00 price target on shares of Cardinal Energy in a research report on Tuesday. Finally, Dundee Securities increased their price target on Cardinal Energy from C$10.50 to C$11.00 and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of C$11.25.
Shares of Cardinal Energy (TSE:CJ) opened at 8.76 on Wednesday. The company’s market capitalization is $643.82 million. The stock’s 50 day moving average price is $8.96 and its 200-day moving average price is $9.17. Cardinal Energy has a 52-week low of $5.59 and a 52-week high of $11.21.
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 15th will be given a $0.035 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 4.79%.
In other news, insider Tim Hyde sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The stock was 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.
Receive News & Stock Ratings for Cardinal Energy Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Energy Ltd and related stocks with our FREE daily email newsletter.