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

Cardinal Energy (TSE:CJ) was upgraded by analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a report released on Wednesday, BayStreet reports. The brokerage presently has a C$15.00 target price on the stock, up from their previous target price of C$12.00. Raymond James Financial’s price objective would suggest a potential upside of 20.29% from the company’s current price.

Separately, Royal Bank Of Canada dropped their price target on shares of Cardinal Energy from C$14.00 to C$13.50 in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat, Cardinal Energy presently has an average rating of “Buy” and a consensus price target of C$13.12.

Cardinal Energy Stock Performance

CJ traded down C$0.16 during trading hours on Wednesday, hitting C$12.47. The stock had a trading volume of 888,190 shares, compared to its average volume of 1,228,781. Cardinal Energy has a 1 year low of C$7.52 and a 1 year high of C$13.38. The company’s fifty day simple moving average is C$11.52 and its 200 day simple moving average is C$11.39. The stock has a market cap of C$2.19 billion, a PE ratio of 35.63, a price-to-earnings-growth ratio of -0.26 and a beta of 0.19. The company has a quick ratio of 0.67, a current ratio of 0.63 and a debt-to-equity ratio of 13.97.

Cardinal Energy (TSE:CJ) last issued its earnings results on Tuesday, July 28th. The company reported C$0.38 earnings per share for the quarter. The firm had revenue of C$193.44 million during the quarter. Cardinal Energy had a net margin of 10.69% and a return on equity of 6.96%. Equities analysts anticipate that Cardinal Energy will post 0.625118 earnings per share for the current 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.