Cardinal Energy (TSE:CJ) Upgraded by Cibc Captl Mkts to Strong-Buy Rating

Cardinal Energy (TSE:CJ) was upgraded by equities researchers at Cibc Captl Mkts from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

CJ has been the subject of a number of other research reports. Raymond James Financial raised their price objective on shares of Cardinal Energy from C$9.00 to C$9.50 and gave the company a “market perform” rating in a report on Thursday. Canadian Imperial Bank of Commerce upgraded shares of Cardinal Energy from a “hold” rating to an “outperform” rating and upped their price target for the company from C$7.75 to C$11.00 in a research report on Thursday. Finally, Royal Bank Of Canada raised their price target on shares of Cardinal Energy from C$9.00 to C$9.50 and gave the company an “outperform” rating in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Cardinal Energy currently has an average rating of “Buy” and a consensus target price of C$10.00.

Cardinal Energy Price Performance

TSE CJ traded up C$0.26 during trading on Thursday, hitting C$9.37. 816,655 shares of the company’s stock were exchanged, compared to its average volume of 1,137,829. The company has a market cap of C$1.51 billion, a PE ratio of 19.52, a P/E/G ratio of -0.26 and a beta of 0.46. The company has a current ratio of 0.50, a quick ratio of 0.67 and a debt-to-equity ratio of 8.05. Cardinal Energy has a fifty-two week low of C$4.64 and a fifty-two week high of C$9.56. The stock’s 50 day moving average price is C$8.80 and its two-hundred day moving average price is C$8.13.

Cardinal Energy (TSE:CJ) last posted its quarterly earnings results on Thursday, November 6th. The company reported C$0.09 earnings per share 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%. Research analysts expect that Cardinal Energy 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.