Raymond James Financial Issues Positive Forecast for Cardinal Energy (TSE:CJ) Stock Price

Cardinal Energy (TSE:CJ) had its price objective hoisted by Raymond James Financial from C$9.00 to C$9.50 in a report released on Thursday morning,BayStreet.CA reports. The brokerage currently has a market perform rating on the stock.

Separately, CIBC upgraded Cardinal Energy from a “neutral” rating to an “outperform” rating and boosted their price target for the company from C$7.75 to C$11.00 in a research report on Thursday. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Cardinal Energy has a consensus rating of “Moderate Buy” and a consensus price target of C$10.00.

Cardinal Energy Stock Performance

Shares of Cardinal Energy stock opened at C$9.11 on Thursday. The firm’s fifty day simple moving average is C$8.80 and its 200-day simple moving average is C$8.13. Cardinal Energy has a 12 month low of C$4.64 and a 12 month high of C$9.56. The stock has a market capitalization of C$1.47 billion, a price-to-earnings ratio of 18.98, a PEG ratio of -0.26 and a beta of 0.46. The company has a debt-to-equity ratio of 8.05, a current ratio of 0.50 and a quick ratio of 0.67.

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