Cardinal Energy (TSE:CJ) Sets New 1-Year High – Here’s What Happened

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

Wall Street Analyst Weigh In

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

Cardinal Energy Stock Up 2.6%

The company’s 50 day moving average price is C$8.87 and its two-hundred day moving average price is C$8.27. The firm has a market cap of C$1.69 billion, a PE ratio of 20.25, a PEG ratio of -0.26 and a beta of 0.46. The company has a current ratio of 0.50, a quick ratio of 0.67 and a debt-to-equity ratio of 8.05.

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.