CIBC Has Lowered Expectations for Cardinal Energy (TSE:CJ) Stock Price

Cardinal Energy (TSE:CJ) had its target price 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 objective would indicate a potential upside of 27.80% from the company’s current price.

Several other equities analysts also recently commented on the company. Royal Bank of Canada cut their price objective on Cardinal Energy from C$8.00 to C$7.00 in a research report on Tuesday, September 17th. BMO Capital Markets cut their price target on shares of Cardinal Energy from C$7.50 to C$7.00 in a report on Friday, October 4th.

Cardinal Energy Trading Down 2.5 %

Shares of Cardinal Energy stock opened at C$6.26 on Friday. The stock’s 50-day simple moving average is C$6.48 and its 200 day simple moving average is C$6.73. The stock has a market capitalization of C$996.47 million, a P/E ratio of 8.58, 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 at Cardinal Energy

In other Cardinal Energy news, Director John Albert Brussa purchased 6,400 shares of the stock in a transaction dated Wednesday, September 25th. The stock was purchased 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 currently 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.