Cardinal Energy Ltd (CJ) Receives C$6.69 Consensus Price Target from Brokerages

Shares of Cardinal Energy Ltd (TSE:CJ) have been assigned an average recommendation of “Buy” from the eight research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is C$6.69.

CJ has been the subject of several analyst reports. BMO Capital Markets lifted their price target on shares of Cardinal Energy from C$5.50 to C$6.50 in a report on Friday, May 11th. CIBC lifted their price target on shares of Cardinal Energy from C$6.00 to C$7.00 in a report on Friday, May 18th. Finally, Raymond James lifted their price target on shares of Cardinal Energy from C$5.00 to C$5.50 in a report on Tuesday, April 24th.

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In other Cardinal Energy news, Director M. Scott Ratushny sold 21,475 shares of the business’s stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of C$4.25, for a total value of C$91,268.75.

Shares of Cardinal Energy traded up C$0.06, hitting C$5.53, during trading on Tuesday, MarketBeat reports. 873,100 shares of the company’s stock traded hands, compared to its average volume of 741,195. Cardinal Energy has a twelve month low of C$3.76 and a twelve month high of C$5.89.

Cardinal Energy (TSE:CJ) last issued its earnings results on Thursday, May 10th. The company reported C($0.12) earnings per share for the quarter, missing the consensus estimate of C($0.01) by C($0.11). Cardinal Energy had a negative net margin of 16.44% and a negative return on equity of 5.88%. The business had revenue of C$94.78 million for the quarter, compared to analyst estimates of C$88.20 million.

The company also recently declared a monthly dividend, which will be paid on Monday, July 16th. Investors of record on Monday, July 16th will be issued a dividend of $0.035 per share. This represents a $0.42 annualized dividend and a yield of 7.59%. The ex-dividend date is Thursday, June 28th.

Cardinal Energy Company Profile

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.

Analyst Recommendations for Cardinal Energy (TSE:CJ)