Cardinal Energy Ltd (TSE:CJ) Given a C$7.00 Price Target by BMO Capital Markets Analysts

BMO Capital Markets set a C$7.00 target price on Cardinal Energy Ltd (TSE:CJ) in a research note issued to investors on Friday, July 28th. The firm currently has an outperform rating on the stock.

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A number of other brokerages also recently weighed in on CJ. Scotiabank decreased their price target on Cardinal Energy from C$11.00 to C$10.00 and set an outperform rating for the company in a report on Friday, May 5th. Royal Bank Of Canada decreased their price target on Cardinal Energy from C$11.00 to C$8.00 and set an outperform rating for the company in a report on Friday, July 28th. TD Securities decreased their price target on Cardinal Energy from C$9.00 to C$8.00 and set a buy rating for the company in a report on Friday, May 5th. Raymond James Financial, Inc. reiterated a market perform rating and set a C$6.75 price target on shares of Cardinal Energy in a report on Tuesday, June 13th. Finally, National Bank Financial decreased their price target on Cardinal Energy from C$9.00 to C$8.00 and set an outperform rating for the company in a report on Friday, May 5th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of C$7.64.

Cardinal Energy (TSE:CJ) traded down 5.87% on Friday, reaching $3.85. The company’s stock had a trading volume of 2,185,830 shares. The stock’s 50 day moving average price is $4.68 and its 200 day moving average price is $6.64. Cardinal Energy has a 12 month low of $3.76 and a 12 month high of $10.81. The company’s market cap is $234.47 million.

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The business also recently disclosed a monthly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be given a dividend of $0.035 per share. The ex-dividend date is Thursday, July 27th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 10.91%.

In related news, Director M. Scott Ratushny acquired 10,000 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were bought at an average price of C$4.20 per share, with a total value of C$42,000.00.

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.