Canacol Energy Ltd. (CNE) Price Target Raised to C$6.25
Canacol Energy Ltd. (TSE:CNE) had its target price upped by stock analysts at Scotiabank from C$5.75 to C$6.25 in a research note issued on Friday. The brokerage presently has an “outperform” rating on the oil and gas exploration company’s stock. Scotiabank’s price target points to a potential upside of 31.03% from the stock’s current price.
A number of other equities research analysts have also weighed in on the company. TD Securities raised their price objective on Canacol Energy from C$5.50 to C$6.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank Of Canada raised their price objective on Canacol Energy from C$4.60 to C$5.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 16th. Canaccord Genuity raised their price objective on Canacol Energy from C$5.75 to C$6.00 and gave the company a “buy” rating in a research note on Tuesday, November 15th. CIBC lowered their price objective on Canacol Energy from C$6.00 to C$5.50 in a research note on Monday, November 14th. Finally, RBC Capital Markets set a C$4.60 price objective on Canacol Energy and gave the company a “sector perform” rating in a research note on Tuesday, September 6th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of C$5.48.
Shares of Canacol Energy (TSE:CNE) traded down 2.94% on Friday, reaching $4.63. The company had a trading volume of 203,322 shares. Canacol Energy has a 12 month low of $1.97 and a 12 month high of $4.80. The company’s market capitalization is $804.23 million. The stock has a 50 day moving average price of $4.41 and a 200-day moving average price of $4.24.
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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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