Cardinal Energy (TSE:CJ) Downgraded by Royal Bank Of Canada to “Sector Perform”

Cardinal Energy (TSE:CJ) was downgraded by investment analysts at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Tuesday, BayStreet reports. They currently have a C$14.50 price target on the stock, up from their prior price target of C$14.00. Royal Bank Of Canada’s target price would indicate a potential upside of 8.21% from the company’s previous close.

Separately, Raymond James Financial raised shares of Cardinal Energy from a “hold” rating to a “moderate buy” rating and boosted their target price for the stock from C$12.00 to C$15.00 in a research note on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Cardinal Energy currently has an average rating of “Buy” and a consensus price target of C$13.38.

Cardinal Energy Price Performance

Shares of CJ stock traded up C$0.27 during trading on Tuesday, hitting C$13.40. The company had a trading volume of 1,140,941 shares, compared to its average volume of 1,216,838. The firm has a market capitalization of C$2.36 billion, a P/E ratio of 38.29, a price-to-earnings-growth ratio of -0.26 and a beta of 0.24. Cardinal Energy has a one year low of C$7.52 and a one year high of C$13.47. The company has a debt-to-equity ratio of 13.97, a quick ratio of 0.67 and a current ratio of 0.63. The stock’s 50-day moving average price is C$11.97 and its 200 day moving average price is C$11.65.

Cardinal Energy (TSE:CJ) last released its earnings results on Tuesday, July 28th. The company reported C$0.38 EPS for the quarter. Cardinal Energy had a net margin of 10.69% and a return on equity of 6.96%. The firm had revenue of C$193.44 million for the quarter. Equities analysts expect that Cardinal Energy will post 0.63 EPS for the current fiscal 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.