Cardinal Energy Ltd (TSE:CJ) – Analysts at Clarus Securities lowered their FY2017 earnings estimates for Cardinal Energy in a research report issued to clients and investors on Wednesday. Clarus Securities analyst R. Pare now expects that the company will post earnings per share of ($0.10) for the year, down from their prior forecast of ($0.06).
Several other equities research analysts have also recently commented on CJ. Scotiabank cut shares of Cardinal Energy from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from C$10.00 to C$6.00 in a research report on Thursday, August 17th. Royal Bank Of Canada lowered their price target on shares of Cardinal Energy from C$11.00 to C$8.00 and set an “outperform” rating for the company in a research report on Friday, July 28th. Raymond James Financial, Inc. lifted their price target on shares of Cardinal Energy from C$5.00 to C$5.50 and gave the company a “market perform” rating in a research report on Wednesday. BMO Capital Markets set a C$7.00 price objective on shares of Cardinal Energy and gave the company an “outperform” rating in a research note on Friday, July 28th. Finally, TD Securities cut their target price on shares of Cardinal Energy from C$8.00 to C$6.00 and set a “buy” rating for the company in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of C$7.71.
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Shares of Cardinal Energy (TSE CJ) traded down C$0.14 during mid-day trading on Friday, reaching C$5.13. 319,177 shares of the company’s stock were exchanged, compared to its average volume of 685,295. Cardinal Energy has a twelve month low of C$3.76 and a twelve month high of C$10.82.
The firm also recently disclosed a monthly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were paid a $0.035 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 8.19%. The ex-dividend date of this dividend was Thursday, September 28th. Cardinal Energy’s dividend payout ratio (DPR) is presently -110.53%.
In other news, Director Gregory Tisdale purchased 19,000 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was acquired at an average cost of C$4.05 per share, with a total value of C$76,950.00. Also, insider Tim Hyde sold 33,000 shares of the stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of C$4.31, for a total transaction of C$142,230.00. Over the last ninety days, insiders purchased 29,000 shares of company stock valued at $118,800.
About Cardinal Energy
Cardinal Energy Ltd. is a Canada-based oil-focused company. The Company is engaged in the acquisition, exploration and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan. Its Wainwright properties are located approximately 200 kilometers southeast of Edmonton, Alberta.
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