Brokerages Set Cardinal Energy Ltd (CJ) Target Price at $7.64
Cardinal Energy Ltd (TSE:CJ) has been given a consensus rating of “Buy” by the eleven analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is C$7.64.
CJ has been the subject of a number of research reports. Scotiabank downgraded Cardinal Energy from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from C$10.00 to C$6.00 in a research note on Thursday, August 17th. Royal Bank Of Canada decreased their target price on Cardinal Energy from C$11.00 to C$8.00 and set an “outperform” rating for the company in a research note on Friday, July 28th. Raymond James Financial, Inc. decreased their target price on Cardinal Energy from C$6.25 to C$5.50 and set a “market perform” rating for the company in a research note on Thursday, August 3rd. BMO Capital Markets set a C$7.00 target price on Cardinal Energy and gave the company an “outperform” rating in a research note on Friday, July 28th. Finally, TD Securities decreased their target price on Cardinal Energy from C$8.00 to C$6.00 and set a “buy” rating for the company in a research note on Thursday, August 3rd.
Cardinal Energy (CJ) traded down 0.47% during mid-day trading on Thursday, reaching $4.24. The company’s stock had a trading volume of 735,691 shares. The firm’s market capitalization is $467.71 million. Cardinal Energy has a 12 month low of $3.76 and a 12 month high of $10.81. The stock’s 50-day moving average is $4.42 and its 200-day moving average is $5.12.
The firm also recently declared a monthly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a dividend of $0.035 per share. The ex-dividend date was Thursday, September 28th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 9.91%.
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In other news, insider Tim Hyde sold 33,000 shares of Cardinal Energy stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of C$4.31, for a total transaction of C$142,230.00. Also, Director John Albert Brussa purchased 20,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average cost of C$3.80 per share, for a total transaction of C$76,000.00. In the last ninety days, insiders have bought 69,000 shares of company stock worth $277,900.
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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