Cardinal Energy Ltd. (OTCMKTS:CRLFF – Get Rating) dropped 5.9% during mid-day trading on Monday . The stock traded as low as $5.81 and last traded at $6.01. Approximately 83,100 shares were traded during mid-day trading, an increase of 31% from the average daily volume of 63,256 shares. The stock had previously closed at $6.39.
CRLFF has been the topic of several analyst reports. Stifel Nicolaus increased their price objective on Cardinal Energy from C$9.25 to C$11.00 in a research note on Monday, May 16th. Raymond James upgraded Cardinal Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 16th.
The firm has a fifty day moving average of $6.31 and a 200 day moving average of $5.16.
Cardinal Energy Ltd. engages in the acquisition, exploration, and production of low decline light, medium, and heavy quality oil, and natural gas in Western Canada. It has operations in the provinces of Alberta and Saskatchewan. As of February 24, 2022, the company had total proved plus probable oil and gas reserves are 110,391 thousand barrels of oil equivalent.
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