Cardinal Energy Ltd (TSE:CJ) had its price objective raised by Raymond James Financial, Inc. from C$5.00 to C$5.50 in a research report released on Wednesday. The firm currently has a market perform rating on the stock.

Other equities research analysts have also issued reports about the stock. Scotiabank lowered shares of Cardinal Energy from an outperform rating to a sector perform rating and cut their target price for the stock from C$10.00 to C$6.00 in a report on Thursday, August 17th. Royal Bank Of Canada cut their target price on shares of Cardinal Energy from C$11.00 to C$8.00 and set an outperform rating on the stock in a report on Friday, July 28th. BMO Capital Markets set a C$7.00 target price on shares of Cardinal Energy and gave the stock an outperform rating in a report on Friday, July 28th. Finally, TD Securities cut their target price on shares of Cardinal Energy from C$8.00 to C$6.00 and set a buy rating on the stock in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of C$7.71.

Cardinal Energy (TSE:CJ) opened at C$5.12 on Wednesday. Cardinal Energy has a twelve month low of C$3.76 and a twelve month high of C$10.82.

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The business also recently disclosed a monthly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 8.20%. Cardinal Energy’s payout ratio is -97.67%.

In related news, insider Tim Hyde sold 33,000 shares of the firm’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of C$4.31, for a total value of C$142,230.00. Also, Director Gregory Tisdale acquired 19,000 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was purchased at an average cost of C$4.05 per share, with a total value of C$76,950.00. Over the last 90 days, insiders have purchased 29,000 shares of company stock worth $118,800.

Cardinal Energy Company Profile

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.

Analyst Recommendations for Cardinal Energy (TSE:CJ)

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