Cardinal Energy Ltd (CJ) Given Average Rating of “Buy” by Analysts

Cardinal Energy Ltd (TSE:CJ) has been assigned an average recommendation of “Buy” from the eleven brokerages that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is C$7.64.

A number of brokerages have commented on CJ. 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 on the stock in a research report on Thursday, August 3rd. 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. Scotiabank cut shares of Cardinal Energy from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from C$10.00 to C$6.00 in a research report on Wednesday, August 9th. 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 on the stock in a research report on Friday, July 28th. Finally, TD Securities reduced their price target on shares of Cardinal Energy from C$8.00 to C$6.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd.

In other news, Director Gregory Tisdale acquired 19,000 shares of the stock in a transaction on Friday, August 18th. The stock was acquired at an average price of C$4.05 per share, with a total value of C$76,950.00. Also, Director John Albert Brussa acquired 20,000 shares of the stock in a transaction on Wednesday, August 9th. The shares were purchased at an average cost of C$3.80 per share, with a total value of C$76,000.00. Insiders have acquired 64,000 shares of company stock valued at $256,900 in the last three months.

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Shares of Cardinal Energy (TSE CJ) traded down 1.26% during midday trading on Friday, hitting $4.72. 314,319 shares of the company traded hands. Cardinal Energy has a 52 week low of $3.76 and a 52 week high of $10.81. The stock’s market capitalization is $520.66 million. The stock has a 50 day moving average of $4.17 and a 200-day moving average of $5.54.

The company also recently disclosed a monthly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a dividend of $0.035 per share. This represents a $0.42 annualized dividend and a yield of 8.90%. The ex-dividend date of this dividend is Thursday, September 28th.

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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