Canacol Energy Ltd (CNE) Given Average Rating of “Buy” by Analysts
Shares of Canacol Energy Ltd (TSE:CNE) have been assigned a consensus recommendation of “Buy” from the seven analysts that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is C$5.79.
Several brokerages have recently issued reports on CNE. TD Securities reduced their price objective on Canacol Energy from C$6.50 to C$6.00 and set a “buy” rating on the stock in a research note on Monday, May 15th. Scotiabank reiterated an “outperform” rating and issued a C$6.25 price objective on shares of Canacol Energy in a research note on Thursday, May 4th.
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Shares of Canacol Energy (TSE:CNE) traded up 0.45% on Monday, hitting $4.42. The stock had a trading volume of 253,956 shares. The stock has a 50 day moving average of $4.07 and a 200 day moving average of $4.05. The firm has a market cap of $771.73 million and a price-to-earnings ratio of 53.25. Canacol Energy has a 12-month low of $3.62 and a 12-month high of $4.80.
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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