Cardinal Energy (TSE:CJ) Reaches New 12-Month High – Time to Buy?

Cardinal Energy Ltd. (TSE:CJ)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as C$9.58 and last traded at C$9.52, with a volume of 1037336 shares. The stock had previously closed at C$9.37.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Raymond James Financial increased their price objective on Cardinal Energy from C$9.00 to C$9.50 and gave the company a “market perform” rating in a report on Thursday, February 5th. Canadian Imperial Bank of Commerce raised Cardinal Energy from a “hold” rating to a “strong-buy” rating and increased their price target for the company from C$7.75 to C$11.00 in a research note on Thursday, February 5th. Royal Bank Of Canada raised their price objective on Cardinal Energy from C$9.00 to C$9.50 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Finally, Cibc Captl Mkts upgraded Cardinal Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$10.00.

Cardinal Energy Price Performance

The company has a debt-to-equity ratio of 8.05, a current ratio of 0.50 and a quick ratio of 0.67. The firm has a market capitalization of C$1.61 billion, a price-to-earnings ratio of 19.33, a PEG ratio of -0.26 and a beta of 0.46. The business’s fifty day simple moving average is C$8.85 and its 200 day simple moving average is C$8.21.

Cardinal Energy (TSE:CJ) last released its quarterly earnings data on Thursday, November 6th. The company reported C$0.09 earnings per share (EPS) for the quarter. The company had revenue of C$104.82 million for the quarter. Cardinal Energy had a net margin of 19.57% and a return on equity of 11.24%. On average, research analysts forecast that Cardinal Energy Ltd. will post 0.625118 EPS for the current year.

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.