Cardinal Energy (TSE:CJ) Upgraded to “Strong-Buy” at Cibc Captl Mkts

Cibc Captl Mkts upgraded shares of Cardinal Energy (TSE:CJ) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Royal Bank Of Canada upped their price objective on shares of Cardinal Energy from C$9.00 to C$9.50 and gave the company an “outperform” rating in a report on Thursday. Canadian Imperial Bank of Commerce raised shares of Cardinal Energy from a “hold” rating to an “outperform” rating and increased their price target for the company from C$7.75 to C$11.00 in a research note on Thursday. Finally, Raymond James Financial lifted their price target on shares of Cardinal Energy from C$9.00 to C$9.50 and gave the company a “market perform” rating in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$10.00.

Cardinal Energy Stock Performance

TSE CJ traded up C$0.26 on Thursday, reaching C$9.37. 816,655 shares of the company’s stock traded hands, compared to its average volume of 1,137,829. Cardinal Energy has a fifty-two week low of C$4.64 and a fifty-two week high of C$9.56. The company has a debt-to-equity ratio of 8.05, a quick ratio of 0.67 and a current ratio of 0.50. The firm has a market cap of C$1.51 billion, a price-to-earnings ratio of 19.52, a P/E/G ratio of -0.26 and a beta of 0.46. The stock has a 50 day moving average price of C$8.80 and a 200-day moving average price of C$8.13.

Cardinal Energy (TSE:CJ) last issued its quarterly earnings data on Thursday, November 6th. The company reported C$0.09 EPS for the quarter. The business 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%. Equities research analysts predict that Cardinal Energy will post 0.625118 EPS for the current fiscal year.

About Cardinal Energy

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.