The Materials sector company, Cardinal Energy (CJ), has received a rating update from a Wall Street analyst on December 7. BMO Capital’s analyst Ray Kwan reiterates their Buy rating on the shares, with a C$4 price target.
According to TipRanks.com, Kwan is ranked 0 out of 5 stars with an average return of -14.2% and a 29.5% success rate. Kwan covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Paramount Resources Ltd, and Freehold Royalties Ltd.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cardinal Energy with a C$5.08 average price target, a 95.4% upside from current levels. In a report issued on December 4, Macquarie also upgraded the stock to Buy with a C$4.45 price target.
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Based on Cardinal Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$9.07 million. In comparison, last year the company had a GAAP net loss of C$12.07 million.
Cardinal Energy Ltd. engages in the exploration, development, and production of oil and natural gas. Its projects include slave lake, wainwright and bantry. The company was founded on December 21, 2010 and is headquartered in Calgary, Canada.
The company’s shares closed on Friday at C$2.60, close to its 52-week low of C$2.50.
