Cardinal Energy Ltd (CJ) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Cardinal Energy Ltd (TSE:CJ) have been given a consensus recommendation of “Buy” by the seven brokerages that are covering the company. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is C$11.25.
A number of brokerages have weighed in on CJ. Scotiabank restated an “outperform” rating and issued a C$12.00 price objective on shares of Cardinal Energy in a report on Wednesday, August 3rd. Royal Bank Of Canada restated an “outperform” rating and issued a C$12.00 price objective on shares of Cardinal Energy in a report on Tuesday, November 8th. TD Securities restated a “buy” rating and issued a C$11.50 price objective on shares of Cardinal Energy in a report on Wednesday, August 3rd. Finally, Dundee Securities upped their price objective on shares of Cardinal Energy from C$10.50 to C$11.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd.
In other news, insider Tim Hyde sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of C$8.68, for a total transaction of C$217,000.00.
Cardinal Energy (TSE:CJ) traded down 0.84% during midday trading on Wednesday, hitting $9.45. 125,707 shares of the company were exchanged. The stock’s market capitalization is $695.08 million. Cardinal Energy has a 1-year low of $5.59 and a 1-year high of $11.03. The stock has a 50 day moving average of $9.17 and a 200-day moving average of $9.17.
The company also recently declared a monthly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 15th were issued a dividend of $0.035 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend was Thursday, October 27th.
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Cardinal Energy Company Profile
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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