Cardinal Energy (TSE:CJ) Upgraded at Royal Bank of Canada

Cardinal Energy (TSE:CJ) was upgraded by stock analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has a C$7.50 price target on the stock, up from their previous price target of C$7.00. Royal Bank of Canada’s target price would suggest a potential upside of 22.15% from the stock’s previous close.

CJ has been the topic of a number of other reports. CIBC decreased their target price on shares of Cardinal Energy from C$8.00 to C$7.00 in a research note on Thursday, April 10th. BMO Capital Markets boosted their price target on shares of Cardinal Energy from C$7.00 to C$7.50 in a research note on Tuesday, January 14th. Finally, Atb Cap Markets downgraded shares of Cardinal Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 30th.

Cardinal Energy Trading Up 10.4 %

Shares of CJ traded up C$0.58 during trading hours on Thursday, reaching C$6.14. 1,833,213 shares of the company traded hands, compared to its average volume of 777,880. Cardinal Energy has a 12-month low of C$4.64 and a 12-month high of C$7.38. The company has a current ratio of 0.50, a quick ratio of 0.67 and a debt-to-equity ratio of 8.05. The stock’s fifty day moving average price is C$6.15 and its 200 day moving average price is C$6.37. The firm has a market cap of C$980.03 million, a price-to-earnings ratio of 9.49, a PEG ratio of -0.26 and a beta of 2.81.

Insider Transactions at Cardinal Energy

In other news, Director M. Scott Ratushny bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, April 10th. The shares were purchased at an average price of C$5.00 per share, with a total value of C$50,000.00. Also, Director John Albert Brussa purchased 30,000 shares of the firm’s stock in a transaction on Monday, April 7th. The shares were purchased at an average cost of C$5.42 per share, with a total value of C$162,600.00. Corporate insiders own 23.38% of the company’s stock.

Cardinal Energy Company Profile

Cardinal Energy Ltd is an oil-focused Canadian company. The company’s principal business activity is the acquisition, exploration, and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan.