Cardinal Energy (TSE:CJ) Upgraded at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce upgraded shares of Cardinal Energy (TSE:CJ) from a hold rating to a strong-buy rating in a research note published on Thursday morning, Marketbeat Ratings reports. The brokerage currently has C$11.00 target price on the stock, up from their prior target price of C$7.75.

Other equities research analysts also recently issued reports about the stock. Raymond James Financial upped their price objective on shares of Cardinal Energy from C$9.00 to C$9.50 and gave the stock a “market perform” rating in a research report on Thursday. Royal Bank Of Canada boosted their target price on Cardinal Energy from C$9.00 to C$9.50 and gave the stock an “outperform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Cardinal Energy presently has a consensus rating of “Buy” and an average price target of C$10.00.

Cardinal Energy Stock Up 2.9%

Shares of TSE:CJ opened at C$9.37 on Thursday. The business’s 50 day moving average is C$8.81 and its 200 day moving average is C$8.15. Cardinal Energy has a 12-month low of C$4.64 and a 12-month high of C$9.56. The stock has a market cap of C$1.51 billion, a price-to-earnings ratio of 19.52, a PEG ratio of -0.26 and a beta of 0.46. The company has a quick ratio of 0.67, a current ratio of 0.50 and a debt-to-equity ratio of 8.05.

Cardinal Energy (TSE:CJ) last issued its quarterly earnings data on Thursday, November 6th. The company reported C$0.09 earnings per share for the quarter. Cardinal Energy had a return on equity of 11.24% and a net margin of 19.57%.The business had revenue of C$104.82 million for the quarter. On average, sell-side analysts forecast that Cardinal Energy will post 0.625118 earnings per share for the current fiscal year.

More Cardinal Energy News

Here are the key news stories impacting Cardinal Energy this week:

• Positive Sentiment: CIBC upgraded Cardinal from “hold” to “strong?buy” and set a C$11.00 price target (up from C$7.75), implying roughly mid?teens upside from current levels — the most influential and recent upgrade driving buyer interest. BayStreet: CIBC upgrade Zacks: CIBC coverage
• Positive Sentiment: RBC raised its price target to C$9.50 and maintained an “outperform” view, a modest but supportive upgrade that helps validate the stock’s strength. BayStreet: RBC target raise
• Positive Sentiment: Raymond James raised its target to C$9.50 and kept a “market perform” rating, reinforcing consensus upgrades and reducing near?term downside risk. BayStreet: Raymond James update
• Neutral Sentiment: Interactive market data and charting for Cardinal are available (useful for tracking intraday flows and technicals). Barron’s: Interactive Chart

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.