Cardinal Energy Ltd (TSE:CJ) Given Average Rating of “Buy” by Brokerages
Shares of Cardinal Energy Ltd (TSE:CJ) have been given a consensus recommendation of “Buy” by the eleven analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$8.21.
A number of equities research analysts recently weighed in on the stock. TD Securities reduced their price target on shares of Cardinal Energy from C$8.00 to C$6.00 and set a “buy” rating for the company in a research report on Thursday. Raymond James Financial, Inc. reduced their price target on shares of Cardinal Energy from C$6.25 to C$5.50 and set a “market perform” rating for the company in a research report on Thursday. BMO Capital Markets set a C$7.00 price target on shares of Cardinal Energy and gave the company an “outperform” rating in a research report on Friday, July 28th. Royal Bank Of Canada reduced their price target on shares of Cardinal Energy from C$11.00 to C$8.00 and set an “outperform” rating for the company in a research report on Friday, July 28th. Finally, Scotiabank reduced their price target on shares of Cardinal Energy from C$11.00 to C$10.00 and set an “outperform” rating for the company in a research report on Friday, May 5th.
Cardinal Energy (TSE CJ) traded up 0.97% during trading on Friday, hitting $4.18. The company had a trading volume of 525,097 shares. The firm’s 50 day moving average is $4.68 and its 200-day moving average is $6.64. The stock’s market capitalization is $254.56 million. Cardinal Energy has a 52-week low of $4.10 and a 52-week high of $10.81.
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be paid a $0.035 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.42 dividend on an annualized basis and a yield of 10.05%.
In other Cardinal Energy news, Director M. Scott Ratushny acquired 10,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were bought at an average cost of C$4.20 per share, for a total transaction of C$42,000.00.
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About Cardinal Energy
Cardinal Energy Ltd. is a Canada-based oil-focused company. The Company is engaged in the acquisition, exploration and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan. Its Wainwright properties are located approximately 200 kilometers southeast of Edmonton, Alberta.
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