Canacol Energy Ltd. (CNE) Receives Buy Rating from TD Securities
TD Securities reaffirmed their buy rating on shares of Canacol Energy Ltd. (TSE:CNE) in a research note issued to investors on Tuesday morning. They currently have a C$5.50 price target on the oil and gas exploration company’s stock.
Other research analysts have also issued reports about the company. Canaccord Genuity raised their price target on Canacol Energy from C$5.25 to C$5.75 in a report on Friday, July 29th. Royal Bank Of Canada assumed coverage on Canacol Energy in a report on Tuesday, September 6th. They set a sector perform rating on the stock. RBC Capital Markets set a C$4.60 price target on Canacol Energy and gave the company a sector perform rating in a report on Tuesday, September 6th. Scotiabank reissued an outperform rating and set a C$5.50 price target on shares of Canacol Energy in a report on Wednesday, July 27th. Finally, Mackie raised their price target on Canacol Energy from C$5.50 to C$6.00 and gave the company a buy rating in a report on Friday, August 12th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Canacol Energy currently has an average rating of Buy and an average target price of C$5.26.
Shares of Canacol Energy (TSE:CNE) opened at 4.54 on Tuesday. The stock’s market capitalization is $775.88 million. The firm’s 50 day moving average is $4.29 and its 200 day moving average is $4.11. Canacol Energy has a 12 month low of $1.97 and a 12 month high of $4.77.
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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