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

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

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

Cardinal Energy Stock Down 2.5 %

Shares of TSE:CJ traded down C$0.16 on Friday, hitting C$6.26. 1,349,566 shares of the company traded hands, compared to its average volume of 640,957. Cardinal Energy has a 52 week low of C$5.75 and a 52 week high of C$7.38. The stock has a 50 day simple moving average of C$6.48 and a 200-day simple moving average of C$6.73. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 9.04. The company has a market cap of C$996.47 million, a PE ratio of 8.58, a PEG ratio of -0.26 and a beta of 2.81.

Cardinal Energy Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a $0.06 dividend. 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 (DPR) is 98.63%.

Insider Activity at Cardinal Energy

In other Cardinal Energy news, Director John Albert Brussa acquired 6,400 shares of Cardinal Energy stock in a transaction that occurred on Wednesday, September 25th. The stock was acquired at an average price of C$6.40 per share, with a total value of C$40,960.00. 23.38% of the stock is owned by 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.