Cardinal Energy (TSE:CJ) Reaches New 52-Week High – Should You Buy?

Cardinal Energy Ltd. (TSE:CJ) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$9.72 and last traded at C$9.71, with a volume of 384963 shares changing hands. The stock had previously closed at C$9.47.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CJ shares. Raymond James Financial raised their price objective on shares of Cardinal Energy from C$9.00 to C$9.50 and gave the company a “market perform” rating in a research report on Thursday, February 5th. Canadian Imperial Bank of Commerce raised shares of Cardinal Energy from a “hold” rating to a “strong-buy” rating and lifted their price objective for the company from C$7.75 to C$11.00 in a research note on Thursday, February 5th. Finally, Royal Bank Of Canada increased their target price on shares of Cardinal Energy from C$9.00 to C$9.50 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$10.00.

Cardinal Energy Stock Down 0.1%

The company has a debt-to-equity ratio of 8.05, a current ratio of 0.50 and a quick ratio of 0.67. The firm has a market capitalization of C$1.72 billion, a P/E ratio of 20.67, a price-to-earnings-growth ratio of -0.26 and a beta of 0.46. The business has a 50 day moving average price of C$8.93 and a 200 day moving average price of C$8.31.

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.