Canacol Energy (CNE) Rating Reiterated by Scotiabank
Canacol Energy (TSE:CNE)‘s stock had its “outperform” rating reaffirmed by equities researchers at Scotiabank in a research report issued to clients and investors on Wednesday. They presently have a C$6.25 price target on the oil and gas exploration company’s stock. Scotiabank’s price objective would indicate a potential upside of 47.06% from the company’s current price.
Other research analysts have also issued research reports about the stock. Canaccord Genuity lowered shares of Canacol Energy from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$5.15 to C$4.75 in a research note on Thursday, September 21st. Eight Capital reiterated a “buy” rating and issued a C$7.00 target price on shares of Canacol Energy in a research note on Wednesday, September 27th. Finally, CIBC lowered shares of Canacol Energy from an “outperform” rating to a “neutral” rating and lowered their target price for the company from C$5.50 to C$5.00 in a research note on Thursday, November 16th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of C$5.75.
Canacol Energy (TSE CNE) traded down C$0.01 during mid-day trading on Wednesday, reaching C$4.25. 588,227 shares of the company’s stock were exchanged, compared to its average volume of 234,531. Canacol Energy has a 12 month low of C$3.62 and a 12 month high of C$4.61.
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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