Cardinal Energy (TSE:CJ) Upgraded by CIBC to “Outperform” Rating

CIBC upgraded shares of Cardinal Energy (TSE:CJ) from a neutral rating to an outperform rating in a research note published on Thursday,BayStreet.CA reports. The firm currently has C$11.00 price target on the stock, up from their prior price target of C$7.75.

Cardinal Energy Stock Performance

Shares of Cardinal Energy stock opened at C$9.11 on Thursday. The business’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 52 week low of C$4.64 and a 52 week high of C$9.56. The company has a quick ratio of 0.67, a current ratio of 0.50 and a debt-to-equity ratio of 8.05. The firm has a market cap of C$1.47 billion, a PE 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 results on Thursday, November 6th. The company reported C$0.09 earnings per share for the quarter. The business had revenue of C$104.82 million during the quarter. Cardinal Energy had a net margin of 19.57% and a return on equity of 11.24%. Equities analysts forecast 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.