CIBC Cuts Cardinal Energy (TSE:CJ) Price Target to C$7.75

Cardinal Energy (TSE:CJ) had its price target reduced by CIBC from C$8.25 to C$7.75 in a report published on Tuesday,BayStreet.CA reports.

Other equities research analysts have also issued research reports about the stock. Royal Bank Of Canada boosted their price objective on shares of Cardinal Energy from C$8.00 to C$8.50 and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. Raymond James Financial raised shares of Cardinal Energy to a “hold” rating in a research note on Monday, September 22nd. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Cardinal Energy presently has an average rating of “Hold” and an average target price of C$8.13.

Cardinal Energy Price Performance

Shares of CJ stock opened at C$8.57 on Tuesday. The business’s fifty day moving average is C$8.76 and its 200 day moving average is C$7.90. The company has a quick ratio of 0.67, a current ratio of 0.50 and a debt-to-equity ratio of 8.05. The stock has a market cap of C$1.38 billion, a price-to-earnings ratio of 17.85, a PEG ratio of -0.26 and a beta of 0.42. Cardinal Energy has a twelve month low of C$4.64 and a twelve month high of C$9.46.

Cardinal Energy (TSE:CJ) last announced its quarterly earnings data on Thursday, November 6th. The company reported C$0.09 EPS for the quarter. The business had revenue of C$104.82 million during the quarter. Cardinal Energy had a return on equity of 11.24% and a net margin of 19.57%. Research analysts expect that Cardinal Energy will post 0.625118 EPS for the current fiscal year.

Cardinal Energy Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 17th were given a dividend of $0.06 per share. This represents a c) annualized dividend and a yield of 8.4%. The ex-dividend date of this dividend was Friday, October 31st. Cardinal Energy’s dividend payout ratio is 150.00%.

Insiders Place Their Bets

In other Cardinal Energy news, insider David Kelly sold 41,430 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of C$7.91, for a total transaction of C$327,711.30. Following the completion of the sale, the insider directly owned 122,624 shares in the company, valued at approximately C$969,955.84. This trade represents a 25.25% decrease in their position. Corporate insiders own 23.38% of the company’s stock.

About Cardinal Energy

Cardinal Energy Ltd is an oil-focused Canadian company. The company’s principal business activity is the acquisition, exploration, and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan.