Canacol Energy Ltd. (TSE:CNE) was downgraded by stock analysts at TD Securities from an “action list buy” rating to a “buy” rating in a note issued to investors on Tuesday. They presently have a C$5.50 price objective on the oil and gas exploration company’s stock. TD Securities’ price target suggests a potential upside of 31.58% from the company’s previous close.
Other equities analysts have also recently issued reports about the company. Scotiabank reaffirmed an “outperform” rating and issued a C$5.50 price objective on shares of Canacol Energy in a research report on Wednesday, July 13th. Canaccord Genuity upped their price objective on Canacol Energy from C$5.25 to C$5.75 in a research report on Friday, July 29th. Mackie upped their price objective on Canacol Energy from C$5.50 to C$6.00 and gave the company a “buy” rating in a research report on Friday, August 12th. RBC Capital Markets set a C$4.60 price objective on Canacol Energy and gave the company a “sector perform” rating in a research report on Tuesday, September 6th. Finally, Royal Bank Of Canada assumed coverage on Canacol Energy in a research report on Tuesday, September 6th. They issued a “sector perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Canacol Energy has a consensus rating of “Buy” and a consensus price target of C$5.26.
Canacol Energy (TSE:CNE) traded down 2.15% during trading on Tuesday, hitting $4.09. The stock had a trading volume of 314,605 shares. Canacol Energy has a 52-week low of $1.97 and a 52-week high of $4.64. The company’s market cap is $698.98 million. The company has a 50-day moving average price of $4.22 and a 200-day moving average price of $3.99.
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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