Raymond James Sticks to Their Hold Rating for Cardinal Energy (CJ)


In a latest note to investors, a research analyst has provided a rating update for the Cardinal Energy (CJ). The Materials sector company, Cardinal Energy (TSX: CJ) has received a rating update from a Wall Street analyst today.

According to TipRanks.com, Mccrea ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -12.8% and a 25.5% success rate. Mccrea covers the Basic Materials sector, focusing on stocks such as Painted Pony Petroleum, Whitecap Resources, and PrairieSky Royalty.

Cardinal Energy has an analyst consensus of Hold, with a price target consensus of C$2.63, which is a 28.3% upside from current levels. In a report released today, RBC Capital also maintained a Hold rating on the stock with a C$2.75 price target.

Based on Cardinal Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of C$3.1 million. In comparison, last year the company had a net profit of C$9.07 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 last Wednesday at C$2.04, close to its 52-week low of C$1.80.

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