Shares of Cardinal Energy (CJ) were revisited by a Wall Street analyst today. RBC Capital’s analyst Shailender Randhawa reiterates their Buy rating on the shares, with a C$7 price target.
According to TipRanks.com, Randhawa is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -5.0% and a 38.0% success rate. Randhawa covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Freehold Royalties Ltd, and PrairieSky Royalty Ltd.
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The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cardinal Energy with a C$6.19 average price target, a 70.8% upside from current levels. In a report released today, GMP FirstEnergy also maintained a Buy rating on the stock with a C$6.25 price target.
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Cardinal Energy’s market cap is currently C$400.9M and has a P/E ratio of 0. The company has a Price to Book ratio of 0.57.
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 Monday at C$3.63, close to its 52-week low of C$3.45.
