Canacol Energy Ltd (CNE) Stock Rating Reaffirmed by Scotiabank
Canacol Energy Ltd (TSE:CNE)‘s stock had its “outperform” rating reaffirmed by investment analysts at Scotiabank in a note issued to investors on Friday. They presently have a C$6.25 price objective on the oil and gas exploration company’s stock. Scotiabank’s price target points to a potential upside of 60.67% from the company’s previous close.
CNE has been the topic of a number of other research reports. Canaccord Genuity lifted their price target on shares of Canacol Energy from C$5.75 to C$6.00 and gave the stock a “buy” rating in a research note on Tuesday, November 15th. CIBC decreased their price target on shares of Canacol Energy from C$6.00 to C$5.50 in a research note on Monday, November 14th. TD Securities reiterated a “buy” rating and set a C$6.00 price target on shares of Canacol Energy in a research note on Wednesday, December 21st. Finally, Royal Bank Of Canada lifted their price target on shares of Canacol Energy from C$4.60 to C$5.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of C$5.69.
Canacol Energy (TSE:CNE) traded up 2.10% during trading on Friday, hitting $3.89. 317,103 shares of the stock traded hands. The firm’s 50-day moving average is $4.10 and its 200 day moving average is $4.29. The stock’s market cap is $675.69 million. Canacol Energy has a 52 week low of $2.67 and a 52 week high of $4.80.
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About Canacol Energy
Canacol Energy Ltd. is a Canada-based oil and gas exploration and production company. The Company is engaged in petroleum and natural gas exploration and development activities in Colombia and Ecuador. It owns approximately 0.5% interest in Oleoducto Bicentenario de Colombia (OBC), which owns a pipeline system that focuses on linking Llanos basin oil production to the Cano Limon oil pipeline system.
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