CIBC Issues Pessimistic Forecast for Cardinal Energy (TSE:CJ) Stock Price

Cardinal Energy (TSE:CJ) had its price target reduced by investment analysts at CIBC from C$8.00 to C$7.00 in a report released on Thursday,BayStreet.CA reports. CIBC’s target price indicates a potential upside of 33.84% from the company’s current price.

CJ has been the subject of a number of other reports. BMO Capital Markets upped their target price on shares of Cardinal Energy from C$7.00 to C$7.50 in a research note on Tuesday, January 14th. Atb Cap Markets lowered Cardinal Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 30th.

Cardinal Energy Price Performance

TSE CJ opened at C$5.23 on Thursday. The company has a debt-to-equity ratio of 8.05, a quick ratio of 0.67 and a current ratio of 0.50. The stock has a market cap of C$834.79 million, a price-to-earnings ratio of 8.08, a PEG ratio of -0.26 and a beta of 2.81. The business has a 50 day simple moving average of C$6.21 and a 200 day simple moving average of C$6.39. Cardinal Energy has a 52-week low of C$4.64 and a 52-week high of C$7.38.

Insider Transactions at Cardinal Energy

In other Cardinal Energy news, Senior Officer Kenneth Cory Lee Younger sold 12,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of C$6.90, for a total transaction of C$82,800.00. Also, Director M. Scott Ratushny purchased 10,000 shares of the business’s stock in a transaction on Thursday, April 10th. The stock was purchased at an average price of C$5.00 per share, with a total value of C$50,000.00. Company insiders own 23.38% of the company’s stock.

About Cardinal Energy

Cardinal Energy Ltd is an oil-focused Canadian company. The company’s principal business activity is the acquisition, exploration, and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan.