Cardinal Energy (TSE:CJ) Stock Rating Upgraded by Cibc Captl Mkts

Cardinal Energy (TSE:CJ) was upgraded by Cibc Captl Mkts from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

CJ has been the topic of several other reports. Royal Bank Of Canada increased their price target on shares of Cardinal Energy from C$9.00 to C$9.50 and gave the company an “outperform” rating in a report on Thursday. Raymond James Financial upped their target price on Cardinal Energy from C$9.00 to C$9.50 and gave the company a “market perform” rating in a research report on Thursday. Finally, Canadian Imperial Bank of Commerce raised Cardinal Energy from a “hold” rating to an “outperform” rating and lifted their price target for the stock from C$7.75 to C$11.00 in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Cardinal Energy currently has an average rating of “Buy” and an average target price of C$10.00.

Cardinal Energy Stock Performance

CJ traded up C$0.26 during trading hours on Thursday, reaching C$9.37. The company’s stock had a trading volume of 816,655 shares, compared to its average volume of 1,137,829. The company’s 50-day moving average is C$8.80 and its 200-day moving average is C$8.13. Cardinal Energy has a 52 week low of C$4.64 and a 52 week high of C$9.56. The firm has a market cap of C$1.51 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of -0.26 and a beta of 0.46. The company has a debt-to-equity ratio of 8.05, a quick ratio of 0.67 and a current ratio of 0.50.

Cardinal Energy (TSE:CJ) last released its quarterly earnings data on Thursday, November 6th. The company reported C$0.09 EPS for the quarter. The firm had revenue of C$104.82 million for the quarter. Cardinal Energy had a net margin of 19.57% and a return on equity of 11.24%. On average, equities analysts forecast that Cardinal Energy will post 0.625118 EPS for the current 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.