Several other equities research analysts also recently issued reports on the stock. Royal Bank of Canada lowered their price objective on shares of Cardinal Energy from C$8.00 to C$7.00 and set an outperform rating on the stock in a research note on Monday, November 5th. CIBC decreased their price target on shares of Cardinal Energy from C$7.00 to C$6.75 in a research note on Friday, October 5th. GMP Securities decreased their price target on shares of Cardinal Energy from C$7.25 to C$6.25 in a research note on Monday, November 5th. Raymond James reiterated a market perform rating and set a C$5.25 price target on shares of Cardinal Energy in a research note on Monday, December 10th. Finally, TD Securities decreased their price target on shares of Cardinal Energy from C$6.00 to C$4.75 and set a buy rating on the stock in a research note on Monday, December 10th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of C$4.55.
CJ stock traded up C$0.01 during midday trading on Thursday, hitting C$2.39. 191,145 shares of the company traded hands, compared to its average volume of 527,844. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 32.50. Cardinal Energy has a twelve month low of C$1.80 and a twelve month high of C$5.89.
Cardinal Energy (TSE:CJ) last announced its quarterly earnings data on Thursday, November 1st. The company reported C$0.08 earnings per share (EPS) for the quarter. The company had revenue of C$87.39 million during the quarter. As a group, research analysts forecast that Cardinal Energy will post 0.24 EPS for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Friday, December 28th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, December 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 5.02%. Cardinal Energy’s payout ratio is presently -60.61%.
In related news, Director M. Scott Ratushny acquired 69,900 shares of the business’s stock in a transaction on Wednesday, December 12th. The stock was bought at an average cost of C$2.40 per share, with a total value of C$167,760.00. Also, insider Robert Ernest Law Wollmann sold 52,800 shares of Cardinal Energy stock in a transaction on Wednesday, December 12th. The shares were sold at an average price of C$2.82, for a total value of C$148,896.00. Over the last three months, insiders have acquired 127,150 shares of company stock valued at $342,741.
About Cardinal Energy
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 Wainwright, Bantry, Mitsue, and Grande Prairie properties. The company was incorporated in 2010 and is headquartered in Calgary, Canada.
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