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

Cardinal Energy (TSE:CJ) had its price objective lowered by analysts at CIBC from C$8.75 to C$8.00 in a research note issued to investors on Friday,BayStreet.CA reports. CIBC’s price target indicates a potential upside of 28.62% from the company’s current price.

A number of other research analysts have also commented on CJ. BMO Capital Markets lowered 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 objective 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$7.80.

Cardinal Energy Trading Down 3.1 %

Shares of TSE:CJ traded down C$0.20 during trading on Friday, reaching C$6.22. The stock had a trading volume of 983,518 shares, compared to its average volume of 639,270. The firm’s fifty day moving average is C$6.50 and its 200 day moving average is C$6.74. The stock has a market cap of C$990.10 million, a price-to-earnings ratio of 8.52, a P/E/G ratio of -0.26 and a beta of 2.81. The company has a debt-to-equity ratio of 9.04, a quick ratio of 0.67 and a current ratio of 0.73. Cardinal Energy has a 52 week low of C$5.75 and a 52 week high of C$7.38.

Insider Activity

In other news, Director John Albert Brussa acquired 6,400 shares of Cardinal Energy stock in a transaction that occurred on Wednesday, September 25th. The shares were acquired at an average price of C$6.40 per share, with a total value of C$40,960.00. 23.38% of the stock is owned by corporate insiders.

Cardinal Energy Company Profile

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.