Royal Bank Of Canada Has Lowered Expectations for Cardinal Energy (TSE:CJ) Stock Price

Cardinal Energy (TSE:CJ) had its price objective cut by equities research analysts at Royal Bank Of Canada from C$14.00 to C$13.50 in a note issued to investors on Wednesday,BayStreet.CA reports. Royal Bank Of Canada’s price target suggests a potential upside of 25.46% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets raised shares of Cardinal Energy from a “hold” rating to an “outperform” rating and set a C$13.00 target price on the stock in a research note on Tuesday, April 7th. Raymond James Financial raised shares of Cardinal Energy from a “hold” rating to a “moderate buy” rating and upped their price target for the stock from C$9.50 to C$13.00 in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Energy presently has an average rating of “Buy” and an average price target of C$12.62.

Cardinal Energy Stock Performance

CJ stock traded down C$0.11 during trading on Wednesday, reaching C$10.76. 569,882 shares of the company’s stock were exchanged, compared to its average volume of 1,281,965. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 18.36. Cardinal Energy has a 1-year low of C$6.90 and a 1-year high of C$13.38. The company’s fifty day moving average price is C$11.57 and its 200-day moving average price is C$10.59. The firm has a market cap of C$1.89 billion, a PE ratio of 179.33, a P/E/G ratio of -0.26 and a beta of 0.20.

Cardinal Energy (TSE:CJ) last released its quarterly earnings results on Thursday, May 7th. The company reported C$0.06 earnings per share (EPS) for the quarter. The company had revenue of C$143.22 million during the quarter. Cardinal Energy had a return on equity of 1.14% and a net margin of 2.09%. On average, research analysts expect that Cardinal Energy will post 0.625118 EPS for the current fiscal year.

Insider Activity at Cardinal Energy

In other news, insider Kenneth Cory Lee Younger sold 25,000 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of C$12.64, for a total value of C$316,000.00. Following the completion of the sale, the insider owned 129,338 shares in the company, valued at C$1,634,832.32. This represents a 16.20% decrease in their ownership of the stock. Corporate insiders own 23.38% of the company’s stock.

Cardinal Energy Company Profile

Cardinal is a Canadian oil and natural gas production company with operations focused on low decline sustainable oil production in Western Canada. Cardinal has recently completed its first thermal SAGD project in Reford, Saskatchewan and has transitioned to the production phase of operations. The Company’s portfolio of conventional and SAGD project inventory offers a complimentary low decline, long life resource base that is ideally suited to sustain our commitment to meaningful dividend returns to shareholders.