GMP Securities Raises Cardinal Energy (CJ) Price Target to C$4.50

Cardinal Energy (TSE:CJ) had its target price raised by equities researchers at GMP Securities from C$4.00 to C$4.50 in a research report issued on Monday, BayStreet.CA reports. GMP Securities’ price objective points to a potential upside of 31.20% from the stock’s previous close.

CJ has been the topic of several other research reports. TD Securities cut shares of Cardinal Energy from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$4.75 to C$2.75 in a research note on Monday, January 7th. 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. 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. National Bank Financial cut shares of Cardinal Energy from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from C$4.25 to C$3.25 in a research note on Friday, March 1st. Finally, Raymond James boosted their price objective on shares of Cardinal Energy from C$3.75 to C$4.25 and gave the stock a “market perform” rating in a research note on Wednesday, March 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of C$3.94.

Shares of TSE CJ remained flat at $C$3.43 during midday trading on Monday. 467,725 shares of the company’s stock were exchanged, compared to its average volume of 622,276. The company has a market capitalization of $398.56 million and a PE ratio of 6.60. Cardinal Energy has a 12-month low of C$1.80 and a 12-month high of C$5.89. The company has a current ratio of 1.06, a quick ratio of 0.64 and a debt-to-equity ratio of 32.75.

About Cardinal Energy

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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