Cardinal Energy (TSE:CJ) Hits New 12-Month High – Should You Buy?

Cardinal Energy Ltd. (TSE:CJ) reached a new 52-week high on Tuesday . The stock traded as high as C$9.58 and last traded at C$9.52, with a volume of 1037336 shares changing hands. The stock had previously closed at C$9.37.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Royal Bank Of Canada increased their price objective on Cardinal Energy from C$9.00 to C$9.50 and gave the company an “outperform” rating in a report on Thursday, February 5th. Raymond James Financial lifted their price target on shares of Cardinal Energy from C$9.00 to C$9.50 and gave the company a “market perform” rating in a research note on Thursday, February 5th. Cibc Captl Mkts upgraded Cardinal Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Finally, Canadian Imperial Bank of Commerce upgraded Cardinal Energy from a “hold” rating to a “strong-buy” rating and lifted their price target for the company from C$7.75 to C$11.00 in a research note on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Cardinal Energy currently has a consensus rating of “Buy” and an average target price of C$10.00.

Cardinal Energy Stock Up 1.6%

The stock has a 50-day simple moving average of C$8.82 and a 200-day simple moving average of C$8.17. The firm has a market capitalization of C$1.65 billion, a PE ratio of 19.83, a P/E/G ratio of -0.26 and a beta of 0.46. The company has a quick ratio of 0.67, a current ratio of 0.50 and a debt-to-equity ratio of 8.05.

Cardinal Energy (TSE:CJ) last issued its earnings results on Thursday, November 6th. The company reported C$0.09 earnings per share for the quarter. The firm 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%. Analysts forecast that Cardinal Energy Ltd. will post 0.625118 EPS 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.