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

Cardinal Energy (TSE:CJGet Free Report) had its price target dropped by analysts at CIBC from C$8.75 to C$8.00 in a research note issued on Friday,BayStreet.CA reports. CIBC’s price target points to a potential upside of 28.62% from the stock’s current price.

Other research analysts have also issued reports about the company. BMO Capital Markets reduced their price target on Cardinal Energy from C$7.50 to C$7.00 in a research report 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 report on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$7.80.

Check Out Our Latest Analysis on Cardinal Energy

Cardinal Energy Price Performance

Shares of TSE:CJ traded down C$0.20 during midday trading on Friday, reaching C$6.22. 983,518 shares of the company were exchanged, compared to its average volume of 639,270. Cardinal Energy has a one year low of C$5.75 and a one year high of C$7.38. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 9.04. The business’s fifty day moving average is C$6.50 and its two-hundred day moving average is C$6.74. The stock has a market cap of C$990.10 million, a PE ratio of 8.52, a price-to-earnings-growth ratio of -0.26 and a beta of 2.81.

Insider Transactions at Cardinal Energy

In related news, Director John Albert Brussa purchased 6,400 shares of the stock in a transaction dated Wednesday, September 25th. The shares were acquired at an average cost of C$6.40 per share, for a total transaction of C$40,960.00. Company insiders own 23.38% of the company’s stock.

About Cardinal Energy

(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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