Cardinal Energy (TSE:CJ) Price Target Raised to C$12.25 at Stifel Nicolaus


Cardinal Energy (TSE:CJ – Get Rating) had its price target hoisted by research analysts at Stifel Nicolaus from C$11.00 to C$12.25 in a research note issued to investors on Monday, BayStreet.CA reports. Stifel Nicolaus’ objective price would indicate a potential upside of 60.34% from the stock’s previous close.

A number of other analysts have also recently commented on CJ. Royal Bank of Canada boosted their price target on Cardinal Energy from C$6.00 to C$8.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 15th. Raymond James increased their target price on Cardinal Energy from C$7.00 to C$8.50 and gave the stock an “outperform” rating in a research note on Friday, March 25th. Finally, CIBC set a C$10.00 price target on Cardinal Energy and gave the stock a “neutral” rating in a research report on Monday, June 27th.

Cardinal Energy stock traded up C$0.41 on Monday, hitting C$7.64. 877,745 shares of the stock traded hands, compared to its average volume of 1,436,847. Cardinal Energy has a 1 year low of C$2.63 and a 1 year high of C$9.73. The firm has a market cap of C$1.24 billion and a P/E ratio of 3.21. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 19.49. The business’s fifty day simple moving average is C$8.09 and its 200 day simple moving average is C$6.76.

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Cardinal Energy (TSE:CJ – Get Rating) last issued its quarterly earnings results on Thursday, May 12th. The company reported C$0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.29 by C$0.06. The business had revenue of C$174.34 million during the quarter. As a group, analysts predict that Cardinal Energy will post 0.82 earnings per share for the current year.

In other Cardinal Energy news, Director John Albert Brussa bought 10,000 shares of the firm’s stock in a transaction on Monday, June 20th. The stock was acquired at an average price of C$7.60 per share, with a total value of C$76,000.00. Following the transaction, the director now owns 3,576,354 shares in the company, valued at C$27,180,290.40. In the last three months, insiders acquired 70,000 shares of company stock valued at $579,100.

About Cardinal Energy (Get Rating)

Cardinal Energy Ltd. engages in the acquisition, exploration, and production of low decline light, medium, and heavy quality oil, and natural gas in Western Canada. It has operations in the provinces of Alberta and Saskatchewan. As of February 24, 2022, the company had total proved plus probable oil and gas reserves are 110,391 thousand barrels of oil equivalent.

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