Cardinal Energy (TSE:CJ) Price Target Raised to C$7.50

Cardinal Energy (TSE:CJ) had its price target hoisted by BMO Capital Markets from C$7.00 to C$7.50 in a research note published on Tuesday,BayStreet.CA reports.

A number of other equities analysts also recently issued reports on CJ. CIBC lowered their price target on Cardinal Energy from C$8.75 to C$8.00 in a research report on Friday, November 8th. 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.

Cardinal Energy Trading Down 2.4 %

CJ stock opened at C$6.63 on Tuesday. Cardinal Energy has a 52-week low of C$5.98 and a 52-week high of C$7.38. 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 firm has a market cap of C$1.06 billion, a P/E ratio of 9.08, a PEG ratio of -0.26 and a beta of 2.81. The company’s 50-day simple moving average is C$6.49 and its 200-day simple moving average is C$6.60.

Cardinal Energy Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.86%. Cardinal Energy’s payout ratio is currently 98.63%.

Insider Activity

In related news, Director M. Scott Ratushny purchased 10,000 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of C$6.12 per share, for a total transaction of C$61,160.00. Also, Senior Officer Kenneth Cory Lee Younger sold 12,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of C$6.90, for a total value of C$82,800.00. Insiders have bought a total of 137,650 shares of company stock worth $852,718 over the last quarter. 23.38% of the stock is currently owned by corporate insiders.

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.