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 report released on Thursday,Zacks.com reports.

Several other brokerages have also issued reports on CJ. 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. CIBC raised Cardinal Energy from a “neutral” rating to an “outperform” rating and increased their target price for the company from C$7.75 to C$11.00 in a research report on Thursday. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$10.00.

Cardinal Energy Price Performance

Shares of CJ stock opened at C$9.11 on Thursday. Cardinal Energy has a twelve month low of C$4.64 and a twelve month high of C$9.56. The company has a current ratio of 0.50, a quick ratio of 0.67 and a debt-to-equity ratio of 8.05. The stock has a fifty day simple moving average of C$8.80 and a two-hundred day simple moving average of C$8.13. The stock has a market capitalization of C$1.47 billion, a price-to-earnings ratio of 18.98, a P/E/G ratio of -0.26 and a beta of 0.46.

Cardinal Energy (TSE:CJ) last issued its earnings results on Thursday, November 6th. The company reported C$0.09 earnings per share (EPS) for the quarter. Cardinal Energy had a net margin of 19.57% and a return on equity of 11.24%. The company had revenue of C$104.82 million for the quarter. On average, 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.