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

Cardinal Energy Ltd. (TSE:CJ) shares hit a new 52-week high on Tuesday . The stock traded as high as C$10.10 and last traded at C$9.94, with a volume of 802279 shares traded. The stock had previously closed at C$9.92.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Royal Bank Of Canada lifted 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, February 5th. Raymond James Financial lifted their price target 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. Finally, Canadian Imperial Bank of Commerce upgraded Cardinal Energy from a “hold” rating to a “strong-buy” rating and upped their price objective for the stock from C$7.75 to C$11.00 in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Cardinal Energy currently has an average rating of “Buy” and a consensus price target of C$10.00.

Cardinal Energy Stock Performance

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 stock has a market cap of C$1.68 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of -0.26 and a beta of 0.46. The firm has a fifty day moving average price of C$9.01 and a 200 day moving average price of C$8.37.

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.