Analysts Set Cardinal Energy Ltd (CJ) Price Target at $3.91

Cardinal Energy Ltd (TSE:CJ) has received an average recommendation of “Buy” from the nine ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is C$3.94.

CJ has been the topic of a number of research reports. TD Securities cut shares of Cardinal Energy from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$4.75 to C$2.75 in a report on Monday, January 7th. Royal Bank of Canada reduced their price objective on shares of Cardinal Energy from C$7.00 to C$5.00 in a research note on Tuesday, January 8th. Canaccord Genuity reduced their price objective on shares of Cardinal Energy from C$4.25 to C$2.70 in a research note on Thursday, January 10th. CIBC reduced their price objective on shares of Cardinal Energy from C$4.50 to C$3.25 in a research note on Friday, February 1st. Finally, National Bank Financial lowered shares of Cardinal Energy from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from C$4.25 to C$3.25 in a research note on Friday, March 1st.

TSE:CJ opened at C$3.40 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.64 and a debt-to-equity ratio of 32.75. The company has a market capitalization of $395.07 million and a P/E ratio of 6.54. Cardinal Energy has a 12 month low of C$1.80 and a 12 month high of C$5.89.

Cardinal Energy Company Profile

Cardinal Energy Ltd. engages in the acquisition, exploration, and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan, Canada. It holds interests in the Wainwright, Bantry, Mitsue, and Grande Prairie properties. The company was incorporated in 2010 and is headquartered in Calgary, Canada.

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Analyst Recommendations for Cardinal Energy (TSE:CJ)

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