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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (79409)	3/20/2020 9:14:17 AM
From: Goose94	Read Replies (2) of 202215

Cardinal Energy (CJ-T) Scotia Capital analyst Patrick Bryden lowered Cardinal Energy to "sector underperform" from "sector perform" after it suspended its dividend and cut its 2020 budget. Mr. Bryden cut his share target to 50 cents from $3.25. Analysts on average target the shares at $1.67. Mr. Bryden says in a note: "Cardinal has reduced its 2020 budget by 54 per cent to $31-million and suspended its dividend in light of the deteriorating market environment. Fourth quarter production of 20.2 mboe/d was 1 per cent below our estimate of 20.4 mboe/d and in line with consensus of 20.3 mboe/d. Funds flow per share of $0.25 was 13 per cent above our estimate of $0.22 and 3 per cent below consensus of $0.26." Jan. 8, 2019, that TD analyst Aaron Bilkoski cut Cardinal to "hold" from "buy," with a share target of $2.75, down from $4.75. The shares were then worth $2.39. Sept. 24, 2019, that RBC Dominion Securities analyst Luke Davis rated Cardinal in new coverage "sector perform," with a $3.50 share target. The shares could then be had for $2.80.

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