Cardinal Energy Ltd (TSE:CJ) has been assigned an average rating of “Buy” from the eleven analysts that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is C$7.64.

Several equities analysts have recently issued reports on the company. TD Securities decreased their price target on Cardinal Energy from C$8.00 to C$6.00 and set a “buy” rating on the stock in a research note on Thursday, August 3rd. BMO Capital Markets set a C$7.00 price target on Cardinal Energy and gave the company an “outperform” rating in a research note on Friday, July 28th. Raymond James Financial, Inc. decreased their price target on Cardinal Energy from C$6.25 to C$5.50 and set a “market perform” rating on the stock in a research note on Thursday, August 3rd. Scotiabank lowered Cardinal Energy from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from C$10.00 to C$6.00 in a research note on Wednesday, August 9th. Finally, Royal Bank Of Canada decreased their price target on Cardinal Energy from C$11.00 to C$8.00 and set an “outperform” rating on the stock in a research note on Friday, July 28th.

Shares of Cardinal Energy (TSE:CJ) remained flat at $4.84 during mid-day trading on Friday. The company’s stock had a trading volume of 773,702 shares. The stock has a 50 day moving average of $4.17 and a 200 day moving average of $5.54. Cardinal Energy has a 12-month low of $3.76 and a 12-month high of $10.81. The company’s market capitalization is $533.90 million.

The company also recently disclosed a monthly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.42 dividend on an annualized basis and a yield of 8.68%.

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In related news, Director M. Scott Ratushny purchased 10,000 shares of Cardinal Energy stock in a transaction on Thursday, August 3rd. The shares were purchased at an average price of C$4.20 per share, for a total transaction of C$42,000.00. Also, Director John Albert Brussa purchased 15,000 shares of Cardinal Energy stock in a transaction on Tuesday, August 8th. The stock was bought at an average price of C$4.13 per share, for a total transaction of C$61,950.00. Insiders have purchased a total of 64,000 shares of company stock worth $256,900 in the last 90 days.

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.

Analyst Recommendations for Cardinal Energy (TSE:CJ)

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