Brokerages Set Cardinal Energy Ltd (CJ) Price Target at $7.71

Cardinal Energy Ltd (TSE:CJ) has been assigned a consensus rating of “Buy” from the eleven brokerages that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is C$7.71.

A number of equities research analysts have commented on CJ shares. TD Securities raised their target price on Cardinal Energy from C$5.50 to C$6.50 and gave the company a “buy” rating in a report on Thursday, November 9th. Raymond James Financial raised their target price on Cardinal Energy from C$5.00 to C$5.50 and gave the company a “market perform” rating in a report on Wednesday, November 8th.

Cardinal Energy (TSE:CJ) traded down C$0.26 during trading on Tuesday, reaching C$4.91. The company’s stock had a trading volume of 1,222,594 shares, compared to its average volume of 919,797. Cardinal Energy has a 12 month low of C$3.76 and a 12 month high of C$10.49. The firm has a market capitalization of $546.43, a P/E ratio of -11.42 and a beta of 1.56.

The firm also recently announced a monthly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be issued a $0.035 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 8.55%. The ex-dividend date is Thursday, December 28th. Cardinal Energy’s dividend payout ratio (DPR) is currently -97.67%.

In other news, Director John Albert Brussa purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was acquired at an average price of C$4.71 per share, with a total value of C$47,100.00. Also, insider Tim Hyde sold 33,000 shares of Cardinal Energy stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of C$4.31, for a total value of C$142,230.00. In the last three months, insiders acquired 20,000 shares of company stock valued at $88,950.

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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.

Analyst Recommendations for Cardinal Energy (TSE:CJ)

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