Shares of Cardinal Energy Ltd (TSE:CJ) have received a consensus rating of “Buy” from the eight analysts that are currently covering the firm. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$11.25.
CJ has been the topic of a number of analyst reports. Dundee Securities upped their price target 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 issued a C$12.00 target price on shares of Cardinal Energy in a research report on Wednesday, August 3rd. Finally, TD Securities reissued a “buy” rating and issued a C$11.50 target price on shares of Cardinal Energy in a research report on Wednesday, August 3rd.
In other news, insider Tim Hyde sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of C$8.68, for a total transaction of C$217,000.00.
Shares of Cardinal Energy (TSE:CJ) traded up 3.49% during trading on Wednesday, reaching $9.79. 586,074 shares of the company’s stock were exchanged. Cardinal Energy has a 12 month low of $5.59 and a 12 month high of $11.57. The firm’s market cap is $719.53 million. The stock has a 50-day moving average price of $8.43 and a 200 day moving average price of $9.12.
The firm also recently declared a monthly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 15th will be given a dividend of $0.035 per share. This represents a $0.42 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend is Thursday, October 27th.
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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