Royal Bank Of Canada Issues Positive Forecast for Cardinal Energy (TSE:CJ) Stock Price

Cardinal Energy (TSE:CJ) had its target price boosted by Royal Bank Of Canada from C$9.00 to C$9.50 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

CJ has been the topic of a number of other research reports. CIBC raised shares of Cardinal Energy from a “neutral” rating to an “outperform” rating and increased their price target for the stock from C$7.75 to C$11.00 in a research note on Thursday. Raymond James Financial upped their price objective on Cardinal Energy from C$9.00 to C$9.50 and gave the stock a “market perform” rating in a report on Thursday. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Cardinal Energy presently has an average rating of “Moderate Buy” and a consensus target price of C$10.00.

Cardinal Energy Stock Down 3.3%

CJ opened at C$9.11 on Thursday. Cardinal Energy has a 12 month low of C$4.64 and a 12 month high of C$9.56. The business has a 50-day moving average of C$8.80 and a two-hundred day moving average of C$8.13. The company has a debt-to-equity ratio of 8.05, a current ratio of 0.50 and a quick ratio of 0.67. The stock has a market capitalization of C$1.47 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of -0.26 and a beta of 0.46.

Cardinal Energy (TSE:CJ) last announced its quarterly earnings data on Thursday, November 6th. The company reported C$0.09 earnings per share for the quarter. Cardinal Energy had a net margin of 19.57% and a return on equity of 11.24%. The business had revenue of C$104.82 million for the quarter. On average, research analysts expect that Cardinal Energy will post 0.625118 earnings per share for the current 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.