Cardinal Energy (TSE:CJ) Raised to Outperform at BMO Capital Markets

Cardinal Energy (TSE:CJ) was upgraded by investment analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a C$13.00 price target on the stock. BMO Capital Markets’ price target indicates a potential upside of 9.24% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Canadian Imperial Bank of Commerce upgraded Cardinal Energy from a “hold” rating to a “strong-buy” rating and upped their price objective for the company from C$7.75 to C$11.00 in a research note on Thursday, February 5th. Raymond James Financial upgraded Cardinal Energy from a “hold” rating to a “moderate buy” rating and upped their price objective for the company from C$9.50 to C$13.00 in a research note on Monday, March 30th. Finally, Royal Bank Of Canada upped their price objective on Cardinal Energy from C$9.50 to C$11.00 and gave the company an “outperform” rating in a research note on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Energy currently has an average rating of “Buy” and an average target price of C$12.00.

Cardinal Energy Stock Performance

CJ traded up C$0.74 on Tuesday, hitting C$11.90. 2,924,927 shares of the stock traded hands, compared to its average volume of 1,392,774. Cardinal Energy has a 52 week low of C$4.64 and a 52 week high of C$12.03. 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 firm has a market capitalization of C$2.06 billion, a PE ratio of 91.54, a P/E/G ratio of -0.26 and a beta of 0.16. The business has a fifty day moving average price of C$10.09 and a two-hundred day moving average price of C$9.03.

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