Cardinal Energy Ltd (CJ) Receives Average Recommendation of “Buy” from Brokerages
Shares of Cardinal Energy Ltd (TSE:CJ) have been given an average recommendation of “Buy” by the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is C$7.71.
Several brokerages have issued reports on CJ. TD Securities lifted their price target on Cardinal Energy from C$5.50 to C$6.50 and gave the stock a “buy” rating in a research note on Thursday, November 9th. Raymond James Financial lifted their price objective on Cardinal Energy from C$5.00 to C$5.50 and gave the stock a “market perform” rating in a report on Wednesday, November 8th. Finally, Scotiabank downgraded Cardinal Energy from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$10.00 to C$6.00 in a report on Thursday, August 17th.
Cardinal Energy (CJ) remained flat at $C$4.76 during trading hours on Friday. 425,633 shares of the company’s stock were exchanged, compared to its average volume of 712,520. Cardinal Energy has a fifty-two week low of C$3.76 and a fifty-two week high of C$10.82.
In related news, Director John Albert Brussa purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were purchased at an average cost of C$4.71 per share, with a total value of C$47,100.00. Also, insider Tim Hyde sold 33,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of C$4.31, for a total value of C$142,230.00. Insiders have acquired a total of 20,000 shares of company stock worth $88,950 in the last quarter.
About Cardinal Energy
Cardinal Energy Ltd. is a Canada-based oil-focused company. The Company is engaged in the acquisition, exploration and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan. Its Wainwright properties are located approximately 200 kilometers southeast of Edmonton, Alberta.
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