Cardinal Energy (TSE:CJ) Given New C$8.75 Price Target at CIBC

Cardinal Energy (TSE:CJ) had its price objective hoisted by CIBC from C$8.50 to C$8.75 in a research note issued to investors on Monday, BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 26.45% from the company’s current price.

Separately, BMO Capital Markets dropped their price target on shares of Cardinal Energy from C$8.00 to C$7.50 in a research report on Wednesday, July 3rd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$8.45.

Cardinal Energy Stock Performance

TSE CJ traded up C$0.13 during trading hours on Monday, hitting C$6.92. The company had a trading volume of 383,787 shares, compared to its average volume of 572,497. Cardinal Energy has a fifty-two week low of C$5.75 and a fifty-two week high of C$7.96. The company has a quick ratio of 0.67, a current ratio of 0.62 and a debt-to-equity ratio of 10.18. The business has a fifty day simple moving average of C$6.80 and a 200-day simple moving average of C$6.72. The firm has a market cap of C$1.10 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of -0.26 and a beta of 2.96.

Cardinal Energy (TSE:CJ) last released its earnings results on Thursday, May 9th. The company reported C$0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.14 by C($0.04). Cardinal Energy had a return on equity of 11.47% and a net margin of 21.40%. The firm had revenue of C$140.23 million for the quarter, compared to analyst estimates of C$143.40 million. Equities analysts predict that Cardinal Energy will post 0.6995885 EPS for the current year.

Insider Transactions at Cardinal Energy

In other news, Senior Officer David Kelly sold 6,700 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of C$6.61, for a total transaction of C$44,287.00. Company insiders own 23.39% of the company’s stock.

About Cardinal Energy

Cardinal Energy Ltd. engages in the acquisition, development, optimization, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Cardinal Energy Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.