Cardinal Energy (TSE:CJ) Price Target Raised to C$7.50 at BMO Capital Markets

Cardinal Energy (TSE:CJ) had its price objective upped by BMO Capital Markets from C$7.00 to C$7.50 in a research report report published on Tuesday,BayStreet.CA reports.

Several other research firms also recently commented on CJ. Royal Bank of Canada decreased their price objective on shares of Cardinal Energy from C$8.00 to C$7.00 in a report on Tuesday, September 17th. CIBC reduced their target price on shares of Cardinal Energy from C$8.75 to C$8.00 in a report on Friday, November 8th.

Cardinal Energy Stock Performance

TSE CJ opened at C$6.81 on Tuesday. The firm has a market capitalization of C$1.08 billion, a P/E ratio of 9.33, a price-to-earnings-growth ratio of -0.26 and a beta of 2.81. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 9.04. The firm’s fifty day moving average price is C$6.48 and its two-hundred day moving average price is C$6.60. Cardinal Energy has a 1 year low of C$5.98 and a 1 year high of C$7.38.

Cardinal Energy Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.57%. The ex-dividend date of this dividend is Friday, January 31st. Cardinal Energy’s dividend payout ratio is currently 98.63%.

Insider Activity

In related news, Director M. Scott Ratushny purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average price of C$6.12 per share, for a total transaction of C$61,160.00. Also, Director John Festival purchased 50,050 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average cost of C$6.20 per share, with a total value of C$310,310.00. Over the last 90 days, insiders acquired 137,650 shares of company stock valued at $852,718. 23.38% of the stock is owned by company insiders.

About Cardinal Energy

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.