Cardinal Energy (TSE:CJ) Price Target Lowered to C$8.00 at CIBC

Cardinal Energy (TSE:CJ) had its target price trimmed by CIBC from C$8.75 to C$8.00 in a report published on Friday morning,BayStreet.CA reports.

A number of other research analysts have also recently issued reports on CJ. BMO Capital Markets decreased their target price on Cardinal Energy from C$7.50 to C$7.00 in a research report on Friday, October 4th. Royal Bank of Canada dropped their target price on shares of Cardinal Energy from C$8.00 to C$7.00 in a report on Tuesday, September 17th.

Cardinal Energy Stock Performance

TSE CJ traded down C$0.16 on Friday, reaching C$6.26. The stock had a trading volume of 1,349,566 shares, compared to its average volume of 640,957. The firm has a fifty day moving average of C$6.48 and a two-hundred day moving average of C$6.73. Cardinal Energy has a 1-year low of C$5.75 and a 1-year high of C$7.38. The company has a market cap of C$996.47 million, a P/E ratio of 8.58, a price-to-earnings-growth ratio of -0.26 and a beta of 2.81. The company has a debt-to-equity ratio of 9.04, a current ratio of 0.73 and a quick ratio of 0.67.

Cardinal Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.72 annualized dividend and a yield of 11.50%. Cardinal Energy’s dividend payout ratio is currently 98.63%.

Insiders Place Their Bets

In related news, Director John Albert Brussa bought 6,400 shares of the stock in a transaction dated Wednesday, September 25th. The stock was bought at an average price of C$6.40 per share, with a total value of C$40,960.00. Corporate insiders own 23.38% of the company’s stock.

Cardinal Energy Company Profile

Cardinal Energy Ltd. engages in the acquisition, development, optimization, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Cardinal Energy Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.