Cardinal Energy (TSE:CJ) Raised to Outperform at CIBC

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

Cardinal Energy Stock Performance

Shares of CJ traded down C$0.31 during mid-day trading on Thursday, reaching C$9.11. 1,686,673 shares of the company’s stock were exchanged, compared to its average volume of 1,133,626. The business’s fifty day simple moving average is C$8.80 and its 200-day simple moving average is C$8.12. The stock has a market capitalization of C$1.47 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of -0.26 and a beta of 0.46. Cardinal Energy has a 52-week low of C$4.64 and a 52-week 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 released its quarterly earnings results on Thursday, November 6th. The company reported C$0.09 EPS for the quarter. The firm had revenue of C$104.82 million during the quarter. Cardinal Energy had a net margin of 19.57% and a return on equity of 11.24%. On average, equities research analysts expect 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.