On December 7, an analyst has provided a rating update for the Materials sector company, Cardinal Energy (CJ). The company received a Hold on December 7 from Raymond James’ analyst Jeremy Mccrea, with a C$5.25 price target.
According to TipRanks.com, Mccrea ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -20.7% and a 21.9% success rate. Mccrea covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Freehold Royalties Ltd, and PrairieSky Royalty Ltd.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cardinal Energy with a C$5.10 average price target, representing an 115.2% upside. In a report issued on November 22, CIBC also downgraded the stock to Hold with a C$4.50 price target.
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Cardinal Energy’s market cap is currently C$279.7M and has a P/E ratio of 0. The company has a Price to Book ratio of 0.38.
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 Tuesday at C$2.37, equals to its 52-week low of C$2.37.
