Cardinal Energy (TSE:CJ) Price Target Lowered to C$7.00 at BMO Capital Markets

Cardinal Energy (TSE:CJ) had its price target trimmed by BMO Capital Markets from C$7.50 to C$7.00 in a research report released on Friday morning, BayStreet.CA reports.

CJ has been the subject of a number of other research reports. CIBC raised their price objective on shares of Cardinal Energy from C$8.50 to C$8.75 in a report on Monday, July 15th. Royal Bank of Canada dropped their price target on shares of Cardinal Energy from C$8.00 to C$7.00 in a research note on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of C$7.95.

Cardinal Energy Price Performance

Shares of CJ opened at C$6.61 on Friday. The company’s fifty day simple moving average is C$6.68 and its 200 day simple moving average is C$6.82. The company has a market cap of C$1.05 billion, a price-to-earnings ratio of 9.05, a PEG ratio of -0.26 and a beta of 2.84. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 9.04. Cardinal Energy has a 1-year low of C$5.75 and a 1-year high of C$7.96.

Cardinal Energy (TSE:CJ) last released its quarterly earnings data on Thursday, August 1st. The company reported C$0.25 earnings per share for the quarter, missing the consensus estimate of C$0.33 by C($0.08). Cardinal Energy had a net margin of 22.78% and a return on equity of 12.73%. The firm had revenue of C$169.35 million for the quarter, compared to analyst estimates of C$164.70 million. On average, research analysts forecast that Cardinal Energy will post 0.635 earnings per share for the current fiscal year.

Cardinal Energy Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 10.89%. The ex-dividend date of this dividend is Monday, September 30th. Cardinal Energy’s dividend payout ratio is presently 98.63%.

Insider Transactions at Cardinal Energy

In other Cardinal Energy news, Director John Albert Brussa purchased 6,400 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was purchased at an average cost of C$6.40 per share, for a total transaction of C$40,960.00. Corporate insiders own 23.38% of the company’s stock.

About Cardinal Energy

Cardinal Energy Ltd. engages in the acquisition, development, optimization, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Cardinal Energy Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.