CIBC Lowers Cardinal Energy (TSE:CJ) Price Target to C$8.00

Cardinal Energy (TSE:CJ) had its price target decreased by CIBC from C$8.75 to C$8.00 in a research note published on Friday,BayStreet.CA reports.

A number of other research analysts have also recently issued reports on CJ. BMO Capital Markets decreased their price objective on shares of Cardinal Energy from C$7.50 to C$7.00 in a research note on Friday, October 4th. Royal Bank of Canada decreased their target price on shares of Cardinal Energy from C$8.00 to C$7.00 in a research note on Tuesday, September 17th.

Cardinal Energy Trading Down 0.5 %

Shares of CJ stock opened at C$6.23 on Friday. The firm has a 50 day moving average price of C$6.48 and a two-hundred day moving average price of C$6.73. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 9.04. The company has a market capitalization of C$991.69 million, a PE ratio of 8.53, a price-to-earnings-growth ratio of -0.26 and a beta of 2.81. Cardinal Energy has a 12-month low of C$5.75 and a 12-month high of C$7.38.

Cardinal Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.72 annualized dividend and a dividend yield of 11.56%. Cardinal Energy’s dividend payout ratio is currently 98.63%.

Insider Activity

In other Cardinal Energy news, Director John Festival bought 50,050 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was bought at an average cost of C$6.20 per share, with a total value of C$310,310.00. In other news, Director John Albert Brussa acquired 6,400 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were acquired at an average price of C$6.40 per share, for a total transaction of C$40,960.00. Also, Director John Festival bought 50,050 shares of the stock in a transaction on Monday, November 11th. The shares were acquired at an average cost of C$6.20 per share, for a total transaction of C$310,310.00. Company insiders own 23.38% of the company’s stock.

Cardinal Energy Company Profile

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.