Cardinal Energy (TSE:CJ) Price Target Lowered to C$13.50 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered its price target on Cardinal Energy to C$13.50 from C$14.00, still implying about 25% upside from the current share price.
• Other analysts remain constructive on the stock, with BMO Capital Markets and Raymond James both upgrading Cardinal Energy and setting C$13.00 targets; the broader consensus rating is Buy.
• Cardinal Energy recently reported C$0.06 EPS on C$143.22 million in revenue, while shares traded at C$10.76 on Wednesday, below the recent analyst targets.

Cardinal Energy (TSE:CJ - Get Free Report) had its target price reduced by Royal Bank Of Canada from C$14.00 to C$13.50 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Royal Bank Of Canada's price target indicates a potential upside of 25.46% from the stock's current price.

Several other equities analysts have also commented on the company. BMO Capital Markets raised Cardinal Energy from a "hold" rating to an "outperform" rating and set a C$13.00 target price for the company in a report on Tuesday, April 7th. Raymond James Financial raised Cardinal Energy from a "hold" rating to a "moderate buy" rating and raised their price target for the stock from C$9.50 to C$13.00 in a report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of C$12.62.

Cardinal Energy Stock Performance

Shares of Cardinal Energy stock traded down C$0.11 during trading hours on Wednesday, reaching C$10.76. The company's stock had a trading volume of 569,882 shares, compared to its average volume of 1,281,965. Cardinal Energy has a one year low of C$6.90 and a one year high of C$13.38. The company's 50 day simple moving average is C$11.57 and its 200 day simple moving average is C$10.59. The company has a debt-to-equity ratio of 18.36, a quick ratio of 0.67 and a current ratio of 0.69. The stock has a market cap of C$1.89 billion, a P/E ratio of 179.33, a price-to-earnings-growth ratio of -0.26 and a beta of 0.20.

Cardinal Energy (TSE:CJ - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported C$0.06 earnings per share for the quarter. The business had revenue of C$143.22 million during the quarter. Cardinal Energy had a net margin of 2.09% and a return on equity of 1.14%. As a group, analysts expect that Cardinal Energy will post 0.625118 EPS for the current fiscal year.

Insider Transactions at Cardinal Energy

In other Cardinal Energy news, insider Kenneth Cory Lee Younger sold 25,000 shares of the business's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of C$12.64, for a total transaction of C$316,000.00. Following the completion of the transaction, the insider directly owned 129,338 shares of the company's stock, valued at C$1,634,832.32. The trade was a 16.20% decrease in their position. 23.38% of the stock is owned by insiders.

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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