Cardinal Energy (TSE:CJ) Upgraded to “Outperform” at Raymond James Financial

Cardinal Energy (TSE:CJ) was upgraded by analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a note issued to investors on Monday,BayStreet.CA reports. The firm currently has a C$13.00 target price on the stock, up from their prior target price of C$9.50. Raymond James Financial’s price target suggests a potential upside of 12.65% from the company’s current price.

CJ has been the topic of a number of other reports. Royal Bank Of Canada increased their price objective on shares of Cardinal Energy from C$9.50 to C$11.00 and gave the company an “outperform” rating in a research note on Monday, March 16th. Canadian Imperial Bank of Commerce upgraded Cardinal Energy from a “hold” rating to a “strong-buy” rating and upped their target price for the stock from C$7.75 to C$11.00 in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Energy presently has an average rating of “Buy” and an average target price of C$11.67.

Cardinal Energy Stock Up 2.1%

Shares of CJ stock traded up C$0.24 on Monday, hitting C$11.54. The stock had a trading volume of 1,529,827 shares, compared to its average volume of 1,335,099. Cardinal Energy has a one year low of C$4.64 and a one year high of C$11.77. The business has a 50 day moving average price of C$9.83 and a 200 day moving average price of C$8.88. The company has a market cap of C$2.00 billion, a PE ratio of 88.77, a P/E/G ratio of -0.26 and a beta of 0.53. The company has a quick ratio of 0.67, a current ratio of 0.54 and a debt-to-equity ratio of 29.09.

Cardinal Energy (TSE:CJ) last issued its earnings results on Thursday, March 12th. The company reported C($0.18) earnings per share (EPS) for the quarter. Cardinal Energy had a return on equity of 2.35% and a net margin of 4.22%.The business had revenue of C$109.19 million for the quarter. Research analysts anticipate that Cardinal Energy 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.