Royal Bank Of Canada Boosts Cardinal Energy (TSE:CJ) Price Target to C$8.50

Key Points

• Royal Bank of Canada has increased Cardinal Energy's price target from C$8.00 to C$8.50, reflecting a potential 4.94% upside from its previous close.
• Raymond James Financial has upgraded Cardinal Energy to a "hold" rating, contributing to a consensus rating of "Hold" among analysts.
• Insider trading has seen significant activity, with two directors purchasing a total of 30,000 shares valued at approximately C$218,250 in early September.

Cardinal Energy (TSE:CJ - Get Free Report) had its price objective upped by research analysts at Royal Bank Of Canada from C$8.00 to C$8.50 in a report released on Tuesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target indicates a potential upside of 4.94% from the stock's previous close.

Separately, Raymond James Financial raised Cardinal Energy to a "hold" rating in a research report on Monday, September 22nd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Cardinal Energy presently has a consensus rating of "Hold" and a consensus target price of C$7.67.

Cardinal Energy Stock Up 0.2%

Shares of TSE CJ traded up C$0.02 during midday trading on Tuesday, hitting C$8.10. 549,156 shares of the company's stock were exchanged, compared to its average volume of 724,830. The company has a debt-to-equity ratio of 8.05, a current ratio of 0.50 and a quick ratio of 0.67. Cardinal Energy has a twelve month low of C$4.64 and a twelve month high of C$8.12. The company has a market cap of C$1.30 billion, a PE ratio of 14.73, a P/E/G ratio of -0.26 and a beta of 0.56. The firm's fifty day simple moving average is C$7.43 and its 200-day simple moving average is C$6.73.

Insider Activity

In other Cardinal Energy news, Director John Albert Brussa purchased 15,000 shares of Cardinal Energy stock in a transaction that occurred on Wednesday, September 3rd. The stock was purchased at an average price of C$7.30 per share, with a total value of C$109,500.00. Following the completion of the acquisition, the director owned 653,600 shares of the company's stock, valued at approximately C$4,771,280. This trade represents a 2.35% increase in their position. Also, Director M. Scott Ratushny bought 15,000 shares of Cardinal Energy stock in a transaction on Wednesday, September 3rd. The shares were purchased at an average cost of C$7.25 per share, for a total transaction of C$108,750.00. Following the acquisition, the director owned 2,988,256 shares in the company, valued at C$21,664,856. The trade was a 0.50% increase in their ownership of the stock. Insiders bought 33,500 shares of company stock valued at $244,005 in the last ninety days. 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.

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