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National Bank Financial initiated coverage on shares of Cardinal Energy (TSE:CJ) in a research note issued on Monday. The firm set an “outperform” rating and a C$21.00 price target on the stock. National Bank Financial’s target price suggests a potential upside of 11.46% from the company’s current price.

CJ has been the subject of a number of other recent research reports. Analysts at CIBC raised their price target on shares of Cardinal Energy from C$19.00 to C$22.50 in a research note on Monday. Five analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of C$19.00.

Shares of Cardinal Energy (TSE:CJ) traded up 0.32% during mid-day trading on Monday, hitting $18.90. The stock had a trading volume of 55,980 shares. Cardinal Energy has a 52-week low of $11.10 and a 52-week high of $19.99. The stock’s 50-day moving average is $18.52 and its 200-day moving average is $15.92. The company has a market cap of $712.1 million and a P/E ratio of 6.36.

Cardinal Energy (TSE:CJ) last posted its quarterly earnings results on Friday, August 15th. The company reported $0.10 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.15 by $0.05. On average, analysts predict that Cardinal Energy will post $0.57 earnings per share for the current fiscal year.

Cardinal Energy Ltd. is a junior oil focused company. The Company’s Chauvin is located approximately 65 kilometers east of Wainwright, Alberta.

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