Cardinal Energy (TSE:CJ) Price Target Lowered to C$2.75 at Royal Bank of Canada

Cardinal Energy (TSE:CJ) had its price target decreased by Royal Bank of Canada from C$3.00 to C$2.75 in a research note released on Wednesday, BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Other equities analysts also recently issued research reports about the company. National Bank Financial raised their price target on Cardinal Energy from C$2.75 to C$3.00 and gave the stock a sector perform rating in a research report on Wednesday, July 31st. Raymond James reissued a market perform rating and set a C$4.00 price target on shares of Cardinal Energy in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of C$3.36.

Cardinal Energy stock opened at C$2.05 on Wednesday. The company has a debt-to-equity ratio of 32.22, a quick ratio of 0.71 and a current ratio of 0.76. The stock has a fifty day moving average of C$2.22 and a two-hundred day moving average of C$2.42. The company has a market capitalization of $228.67 million and a price-to-earnings ratio of 3.26. Cardinal Energy has a fifty-two week low of C$1.80 and a fifty-two week high of C$3.50.

The business also recently declared a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 16th will be given a dividend of $0.015 per share. This represents a $0.18 annualized dividend and a yield of 8.78%. The ex-dividend date of this dividend is Tuesday, November 26th. Cardinal Energy’s payout ratio is 39.01%.

In other Cardinal Energy news, Director John Albert Brussa acquired 20,000 shares of the stock in a transaction dated Thursday, October 31st. The stock was acquired at an average price of C$1.95 per share, with a total value of C$39,000.00. Following the completion of the transaction, the director now directly owns 1,290,844 shares in the company, valued at C$2,517,145.80.

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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