Cardinal Energy (TSE:CJ) Stock Rating Upgraded by Raymond James Financial

Cardinal Energy (TSE:CJ) was upgraded by equities research analysts at Raymond James Financial from a “hold” rating to a “moderate buy” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm presently has a C$13.00 price objective on the stock, up from their prior price objective of C$9.50. Raymond James Financial’s price objective would suggest a potential upside of 14.34% from the company’s previous close.

A number of other research analysts have also recently commented on CJ. Canadian Imperial Bank of Commerce upgraded shares of 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 report on Thursday, February 5th. Royal Bank Of Canada boosted their price objective on shares of Cardinal Energy from C$9.50 to C$11.00 and gave the stock 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’s stock. According to data from MarketBeat.com, Cardinal Energy has a consensus rating of “Buy” and an average price target of C$11.67.

Cardinal Energy Price Performance

CJ opened at C$11.37 on Monday. The stock has a 50-day moving average price of C$9.94 and a 200-day moving average price of C$8.94. Cardinal Energy has a 12-month low of C$4.64 and a 12-month high of C$11.77. The company has a current ratio of 0.54, a quick ratio of 0.67 and a debt-to-equity ratio of 29.09. The stock has a market capitalization of C$1.97 billion, a P/E ratio of 87.46, a PEG ratio of -0.26 and a beta of 0.53.

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