Cardinal Energy (TSE:CJ) Stock Dropped to "Sector Perform" by Royal Bank Of Canada

Key Points

• Royal Bank of Canada downgraded Cardinal Energy from “outperform” to “sector perform,” while raising its price target to C$14.50 from C$14.00—implying 8.21% potential upside.
• Analyst sentiment remains broadly positive: Raymond James upgraded the stock to “moderate buy” with a C$15.00 target, while the consensus rating is “Buy” with an average target of C$13.38.
• Cardinal Energy shares rose 2.1% to C$13.40, near their one-year high of C$13.47. The company reported quarterly EPS of C$0.38 on revenue of C$193.44 million.

Cardinal Energy (TSE:CJ - Get Free Report) was downgraded by investment analysts at Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report issued on Tuesday, BayStreet reports. They presently have a C$14.50 target price on the stock, up from their prior target price of C$14.00. Royal Bank Of Canada's target price suggests a potential upside of 8.21% from the stock's previous close.

Separately, Raymond James Financial raised shares of Cardinal Energy from a "hold" rating to a "moderate buy" rating and raised their target price for the company from C$12.00 to C$15.00 in a research report on Wednesday, September 16th. One investment 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 MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of C$13.38.

Cardinal Energy Trading Up 2.1%

CJ stock traded up C$0.27 during midday trading on Tuesday, hitting C$13.40. 1,140,941 shares of the company's stock were exchanged, compared to its average volume of 1,216,838. 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 company has a market cap of C$2.36 billion, a PE ratio of 38.29, a price-to-earnings-growth ratio of -0.26 and a beta of 0.24. The stock's fifty day moving average price is C$11.97 and its 200-day moving average price is C$11.65.

Cardinal Energy (TSE:CJ - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported C$0.38 EPS for the quarter. The company had revenue of C$193.44 million for the quarter. Cardinal Energy had a return on equity of 6.96% and a net margin of 10.69%. Research analysts predict that Cardinal Energy will post 0.63 earnings per share 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.

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