Insider Buying: Cardinal Energy Ltd (CJ) Director Purchases 10,000 Shares of Stock
Cardinal Energy Ltd (TSE:CJ) Director John Albert Brussa purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was acquired at an average cost of C$4.71 per share, with a total value of C$47,100.00.
Shares of Cardinal Energy Ltd (CJ) traded down C$0.07 during mid-day trading on Wednesday, reaching C$4.63. The company had a trading volume of 686,518 shares, compared to its average volume of 697,239. Cardinal Energy Ltd has a fifty-two week low of C$3.76 and a fifty-two week high of C$10.82.
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CJ has been the subject of several research reports. TD Securities decreased their target price on Cardinal Energy from C$8.00 to C$6.00 and set a “buy” rating for the company in a research note on Thursday, August 3rd. Raymond James Financial, Inc. raised their target price on Cardinal Energy from C$5.00 to C$5.50 and gave the company a “market perform” rating in a research note on Wednesday, November 8th. BMO Capital Markets set a C$7.00 target price on Cardinal Energy and gave the company an “outperform” rating in a research note on Friday, July 28th. Royal Bank Of Canada decreased their target price on Cardinal Energy from C$11.00 to C$8.00 and set an “outperform” rating for the company in a research note on Friday, July 28th. Finally, Scotiabank cut Cardinal Energy from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from C$10.00 to C$6.00 in a research note on Thursday, August 17th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Cardinal Energy presently has a consensus rating of “Buy” and an average target price of C$7.71.
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.
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