CIBC Boosts Cardinal Energy (TSE:CJ) Price Target to C$8.50

Cardinal Energy (TSE:CJ - Get Free Report) had its price objective increased by analysts at CIBC from C$8.00 to C$8.50 in a research report issued to clients and investors on Monday, BayStreet.CA reports. The firm presently has a "neutral" rating on the stock. CIBC's price objective would indicate a potential upside of 21.08% from the company's current price.

Several other equities analysts have also weighed in on CJ. ATB Capital reduced their target price on shares of Cardinal Energy from C$9.50 to C$8.50 and set an "outperform" rating on the stock in a report on Thursday, January 18th. Raymond James dropped their price target on shares of Cardinal Energy from C$9.00 to C$8.50 and set a "market perform" rating on the stock in a research note on Friday, January 19th.

Cardinal Energy Stock Up 1.6 %

TSE:CJ traded up C$0.11 during trading hours on Monday, hitting C$7.02. The company's stock had a trading volume of 911,049 shares, compared to its average volume of 551,021. The company has a current ratio of 0.54, a quick ratio of 0.67 and a debt-to-equity ratio of 5.44. Cardinal Energy has a 52-week low of C$5.75 and a 52-week high of C$7.96. The stock has a market capitalization of C$1.11 billion, a P/E ratio of 10.75, a price-to-earnings-growth ratio of -0.26 and a beta of 2.99. The stock has a fifty day moving average of C$6.82 and a 200-day moving average of C$6.75.

Cardinal Energy (TSE:CJ - Get Free Report) last issued its earnings results on Thursday, March 14th. The company reported C$0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$0.20 by C($0.07). Cardinal Energy had a net margin of 21.53% and a return on equity of 11.22%. The company had revenue of C$148.04 million during the quarter, compared to analysts' expectations of C$147.60 million. On average, equities analysts forecast that Cardinal Energy will post 0.795302 earnings per share for the current year.

Insider Activity at Cardinal Energy

In related news, Senior Officer David Kelly sold 7,100 shares of the company's stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of C$7.07, for a total value of C$50,214.75. In other Cardinal Energy news, Senior Officer David Kelly sold 7,100 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of C$7.07, for a total value of C$50,214.75. Also, Director John Albert Brussa purchased 27,000 shares of the company's stock in a transaction dated Thursday, April 4th. The shares were acquired at an average price of C$6.99 per share, for a total transaction of C$188,670.60. 24.00% of the stock is owned by insiders.

About Cardinal Energy

Cardinal Energy Ltd. engages in the acquisition, development, optimization, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Cardinal Energy Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.