Cardinal Energy (TSE:CJ) Upgraded to “Outperform” at CIBC

Cardinal Energy (TSE:CJ) was upgraded by research analysts at CIBC from a “neutral” rating to an “outperform” rating in a research report issued on Thursday,BayStreet.CA reports. The firm presently has a C$11.00 target price on the stock, up from their prior target price of C$7.75. CIBC’s price objective suggests a potential upside of 20.75% from the stock’s previous close.

Cardinal Energy Stock Down 3.3%

Shares of Cardinal Energy stock traded down C$0.31 during trading on Thursday, hitting C$9.11. 1,686,673 shares of the stock were exchanged, compared to its average volume of 1,133,626. The stock has a market cap of C$1.47 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of -0.26 and a beta of 0.46. The firm’s 50-day moving average price is C$8.80 and its 200 day moving average price is C$8.12. Cardinal Energy has a 12-month low of C$4.64 and a 12-month high of C$9.56. The company has a debt-to-equity ratio of 8.05, a current ratio of 0.50 and a quick ratio of 0.67.

Cardinal Energy (TSE:CJ) last posted its earnings results on Thursday, November 6th. The company reported C$0.09 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. As a group, analysts forecast that Cardinal Energy will post 0.625118 earnings per share 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.