Cardinal Energy (TSE:CJ) Given New C$8.25 Price Target at CIBC

Key Points

• CIBC has raised Cardinal Energy's price target from C$7.00 to C$8.25, indicating a potential upside of 5.10% based on the current market price.
• Cardinal Energy's stock has a consensus rating of "Hold" among analysts, with a current average price target of C$8.08.
• Recent insider trading activity includes directors acquiring a total of 33,500 shares valued at around C$244,005 over the last three months, showing confidence in the company's stock.

Cardinal Energy (TSE:CJ - Get Free Report) had its price target raised by equities research analysts at CIBC from C$7.00 to C$8.25 in a research note issued on Wednesday,BayStreet.CA reports. CIBC's price target points to a potential upside of 5.10% from the company's current price.

A number of other equities analysts also recently weighed in on the company. Raymond James Financial upgraded Cardinal Energy to a "hold" rating in a report on Monday, September 22nd. Royal Bank Of Canada upped their target price on Cardinal Energy from C$8.00 to C$8.50 and gave the company an "outperform" rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of C$8.08.

Cardinal Energy Trading Up 1.6%

TSE CJ traded up C$0.12 on Wednesday, hitting C$7.85. 503,197 shares of the company were exchanged, compared to its average volume of 738,132. The firm has a market capitalization of C$1.26 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of -0.26 and a beta of 0.56. Cardinal Energy has a twelve month low of C$4.64 and a twelve month high of C$8.65. The company has a debt-to-equity ratio of 8.05, a current ratio of 0.50 and a quick ratio of 0.67. The company's 50 day moving average price is C$7.54 and its 200-day moving average price is C$6.79.

Insider Activity at Cardinal Energy

In other Cardinal Energy news, Director John Albert Brussa acquired 15,000 shares of Cardinal Energy stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average cost of C$7.30 per share, with a total value of C$109,500.00. Following the completion of the transaction, the director owned 653,600 shares of the company's stock, valued at C$4,771,280. The trade was a 2.35% increase in their ownership of the stock. Also, Director M. Scott Ratushny acquired 15,000 shares of Cardinal Energy stock in a transaction dated Wednesday, September 3rd. The stock was acquired at an average cost of C$7.25 per share, with a total value of C$108,750.00. Following the completion of the transaction, the director directly owned 2,988,256 shares of the company's stock, valued at C$21,664,856. This trade represents a 0.50% increase in their position. Insiders bought 33,500 shares of company stock valued at $244,005 over the last three months. 23.38% of the stock is owned by company insiders.

Cardinal Energy Company Profile

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.

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