Cardinal Energy (TSE:CJ) Sets New 52-Week High – Here’s Why

Cardinal Energy Ltd. (TSE:CJ) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$9.47 and last traded at C$9.42, with a volume of 1506797 shares changing hands. The stock had previously closed at C$9.11.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CJ. CIBC decreased their target price on Cardinal Energy from C$8.25 to C$7.75 in a research note on Tuesday, January 13th. Royal Bank Of Canada upped their price target on shares of Cardinal Energy from C$8.00 to C$8.50 and gave the company an “outperform” rating in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$8.13.

Cardinal Energy Stock 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$1.52 billion, a PE ratio of 19.63, a P/E/G ratio of -0.26 and a beta of 0.46. The firm has a fifty day moving average price of C$8.79 and a 200 day moving average price of C$8.11.

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