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

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

Other research analysts have also issued research reports about the stock. Royal Bank of Canada reduced their price objective on shares of Cardinal Energy from C$8.00 to C$7.00 in a research note on Tuesday, September 17th. CIBC reduced their price target on Cardinal Energy from C$8.75 to C$8.00 in a research report on Friday, November 8th.

Cardinal Energy Stock Performance

Shares of CJ stock opened at C$6.63 on Tuesday. The firm has a market cap of C$1.06 billion, a price-to-earnings ratio of 9.08, a PEG ratio of -0.26 and a beta of 2.81. 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 company’s 50 day moving average is C$6.49 and its 200 day moving average is C$6.60.

Cardinal Energy Dividend Announcement

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

Insiders Place Their Bets

In related news, Senior Officer Kenneth Cory Lee Younger sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of C$6.90, for a total value of C$82,800.00. Also, Director M. Scott Ratushny acquired 10,000 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were acquired at an average price of C$6.12 per share, with a total value of C$61,160.00. Over the last quarter, insiders purchased 137,650 shares of company stock valued at $852,718. 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.