BMO Capital Markets Cuts Cardinal Energy (TSE:CJ) Price Target to C$7.00

by · The Markets Daily

Cardinal Energy (TSE:CJ – Free Report) had its price target decreased by BMO Capital Markets from C$7.50 to C$7.00 in a report released on Friday, BayStreet.CA reports.

Several other brokerages also recently weighed in on CJ. Royal Bank of Canada cut their price objective on shares of Cardinal Energy from C$8.00 to C$7.00 in a research report on Tuesday, September 17th. CIBC lifted their price objective on shares of Cardinal Energy from C$8.50 to C$8.75 in a research report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of C$7.95.

Read Our Latest Research Report on CJ

Cardinal Energy Price Performance

Shares of CJ stock opened at C$6.61 on Friday. The firm has a market cap of C$1.05 billion, a P/E ratio of 9.05, a P/E/G ratio of -0.26 and a beta of 2.84. 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 has a 1-year low of C$5.75 and a 1-year high of C$7.96. The firm has a fifty day moving average of C$6.68 and a two-hundred day moving average of C$6.82.

Cardinal Energy (TSE:CJ – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported C$0.25 EPS for the quarter, missing the consensus estimate of C$0.33 by C($0.08). Cardinal Energy had a net margin of 22.78% and a return on equity of 12.73%. The business had revenue of C$169.35 million during the quarter, compared to analyst estimates of C$164.70 million. As a group, research analysts anticipate that Cardinal Energy will post 0.635 earnings per share for the current fiscal year.

Cardinal Energy Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 10.89%. The ex-dividend date is Monday, September 30th. Cardinal Energy’s dividend payout ratio (DPR) is currently 98.63%.

Insider Transactions at Cardinal Energy

In other news, Director John Albert Brussa bought 6,400 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were acquired at an average cost of C$6.40 per share, with a total value of C$40,960.00. 23.38% of the stock is currently owned by insiders.

Cardinal Energy Company Profile

(Get Free Report)

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.

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