CIBC Lowers Cardinal Energy (TSE:CJ) Price Target to C$7.00

Cardinal Energy (TSE:CJ) had its price target cut by CIBC from C$8.00 to C$7.00 in a research report sent to investors on Thursday,BayStreet.CA reports.

CJ has been the topic of several other research reports. Atb Cap Markets cut shares of Cardinal Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 30th. BMO Capital Markets lifted their price target on Cardinal Energy from C$7.00 to C$7.50 in a research report on Tuesday, January 14th.

Cardinal Energy Stock Performance

TSE:CJ opened at C$5.23 on Thursday. The company has a market cap of C$834.79 million, a price-to-earnings ratio of 8.08, a PEG ratio of -0.26 and a beta of 2.81. Cardinal Energy has a 1 year low of C$4.64 and a 1 year high of C$7.38. The stock’s 50 day simple moving average is C$6.21 and its two-hundred day simple moving average is C$6.39. The company has a debt-to-equity ratio of 8.05, a current ratio of 0.50 and a quick ratio of 0.67.

Cardinal Energy Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be paid a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 13.77%. The ex-dividend date is Monday, March 31st. Cardinal Energy’s payout ratio is currently 111.27%.

Insider Buying and Selling at Cardinal Energy

In other Cardinal Energy news, Director M. Scott Ratushny bought 10,000 shares of the firm’s stock in a transaction dated Thursday, April 10th. The stock was acquired at an average cost of C$5.00 per share, for a total transaction of C$50,000.00. Also, Director John Albert Brussa purchased 30,000 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was bought at an average price of C$5.42 per share, for a total transaction of C$162,600.00. Company insiders own 23.38% of the company’s stock.

About Cardinal Energy

Cardinal Energy Ltd is an oil-focused Canadian company. The company’s principal business activity is the acquisition, exploration, and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan.