Brokerages Set Cardinal Energy Ltd (TSE:CJ) Target Price at C$3.77

Shares of Cardinal Energy Ltd (TSE:CJ) have been given an average rating of “Buy” by the nine analysts that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is C$3.77.

A number of research analysts have recently issued reports on CJ shares. GMP Securities reduced their price objective on shares of Cardinal Energy from C$4.50 to C$4.00 in a report on Friday, June 28th. National Bank Financial lifted their price objective on shares of Cardinal Energy from C$2.75 to C$3.00 and gave the company a “sector perform” rating in a report on Wednesday, July 31st. Finally, Raymond James reiterated a “market perform” rating and set a C$4.00 price objective on shares of Cardinal Energy in a report on Wednesday, July 31st.

Shares of TSE CJ traded down C$0.05 during mid-day trading on Friday, reaching C$2.19. 209,000 shares of the company’s stock traded hands, compared to its average volume of 482,751. The stock has a market cap of $256.55 million and a P/E ratio of 3.49. The business has a 50-day simple moving average of C$2.28 and a 200 day simple moving average of C$2.54. Cardinal Energy has a 1-year low of C$1.80 and a 1-year high of C$5.50. The company has a debt-to-equity ratio of 32.22, a current ratio of 0.76 and a quick ratio of 0.71.

The firm also recently disclosed a monthly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.015 per share. This is a boost from Cardinal Energy’s previous monthly dividend of $0.01. This represents a $0.18 dividend on an annualized basis and a dividend yield of 8.22%. The ex-dividend date was Tuesday, July 30th. Cardinal Energy’s dividend payout ratio (DPR) is currently 39.01%.

Cardinal Energy Company Profile

Cardinal Energy Ltd. engages in the acquisition, exploration, and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan, Canada. It holds interests in the Midale, Wainwright, Mitsue, Bantry, and Grande Prairie properties. The company was incorporated in 2010 and is headquartered in Calgary, Canada.

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Analyst Recommendations for Cardinal Energy (TSE:CJ)

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