Stifel Firstegy Comments on Cardinal Energy Ltd.’s FY2022 Earnings (TSE:CJ)

Cardinal Energy Ltd. (TSE:CJ – Get Rating) – Equities researchers at Stifel Firstegy upped their FY2022 earnings estimates for shares of Cardinal Energy in a research report issued to clients and investors on Thursday, May 19th. Stifel Firstegy analyst C. Kwong now forecasts that the company will post earnings per share of $1.47 for the year, up from their prior forecast of $1.33. Stifel Firstegy also issued estimates for Cardinal Energy’s FY2023 earnings at $1.06 EPS.

Cardinal Energy (TSE:CJ – Get Rating) last issued its earnings results on Monday, March 14th. The company reported C$0.24 EPS for the quarter, beating the consensus estimate of C$0.14 by C$0.10. The firm had revenue of C$140.41 million during the quarter.

Several other equities research analysts also recently commented on the stock. BMO Capital Markets upped their target price on shares of Cardinal Energy from C$6.00 to C$6.50 in a research note on Tuesday, January 25th. Stifel Nicolaus upped their price target on shares of Cardinal Energy from C$9.25 to C$11.00 in a report on Monday, May 16th. Raymond James upped their price target on shares of Cardinal Energy from C$7.00 to C$8.50 and gave the company an “outperform” rating in a report on Friday, March 25th. Finally, Royal Bank of Canada upped their price target on shares of Cardinal Energy from C$6.00 to C$8.00 and gave the company a “sector perform” rating in a report on Tuesday, March 15th.

Shares of TSE:CJ opened at C$9.37 on Monday. Cardinal Energy has a 52 week low of C$2.63 and a 52 week high of C$9.73. The company has a debt-to-equity ratio of 19.49, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of C$1.42 billion and a PE ratio of 4.15. The company has a 50 day moving average price of C$7.48 and a two-hundred day moving average price of C$5.94.

Cardinal Energy Company Profile (Get Rating)

Cardinal Energy Ltd. engages in the acquisition, exploration, and production of low decline light, medium, and heavy quality oil, and natural gas in Western Canada. It has operations in the provinces of Alberta and Saskatchewan. As of February 24, 2022, the company had total proved plus probable oil and gas reserves are 110,391 thousand barrels of oil equivalent.

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