Cardinal Energy (TSE:CJ) Raised to “Outperform” at Raymond James Financial

Cardinal Energy (TSE:CJ) was upgraded by Raymond James Financial from a “market perform” rating to an “outperform” rating in a report released on Monday,BayStreet.CA reports. The brokerage presently has a C$13.00 target price on the stock, up from their previous target price of C$9.50. Raymond James Financial’s target price suggests a potential upside of 12.65% from the company’s previous close.

A number of other equities research analysts have also recently commented on CJ. Canadian Imperial Bank of Commerce upgraded Cardinal Energy from a “hold” rating to a “strong-buy” rating and increased their price target for the company from C$7.75 to C$11.00 in a research note on Thursday, February 5th. Royal Bank Of Canada upped their price objective on shares of Cardinal Energy from C$9.50 to C$11.00 and gave the company an “outperform” rating in a report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, Cardinal Energy presently has an average rating of “Buy” and an average target price of C$11.67.

Cardinal Energy Stock Up 2.1%

TSE CJ traded up C$0.24 on Monday, hitting C$11.54. The stock had a trading volume of 1,529,827 shares, compared to its average volume of 1,335,099. The business’s fifty day moving average price is C$9.83 and its 200 day moving average price is C$8.88. The stock has a market cap of C$2.00 billion, a price-to-earnings ratio of 88.77, a price-to-earnings-growth ratio of -0.26 and a beta of 0.53. The company has a debt-to-equity ratio of 29.09, a current ratio of 0.54 and a quick ratio of 0.67. Cardinal Energy has a 52-week low of C$4.64 and a 52-week high of C$11.77.

Cardinal Energy (TSE:CJ) last issued its quarterly earnings data on Thursday, March 12th. The company reported C($0.18) EPS for the quarter. Cardinal Energy had a net margin of 4.22% and a return on equity of 2.35%. The business had revenue of C$109.19 million for the quarter. Equities research analysts anticipate that Cardinal Energy will post 0.625118 earnings per share 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.