Canacol Energy Ltd. (TSE:CNE) Receives Average Rating of “Buy” from Analysts
Shares of Canacol Energy Ltd. (TSE:CNE) have earned a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the firm. Two equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is C$5.26.
A number of analysts have weighed in on CNE shares. Canaccord Genuity increased their price target on Canacol Energy from C$5.25 to C$5.75 in a report on Friday, July 29th. TD Securities increased their price target on Canacol Energy from C$5.00 to C$5.50 and gave the stock an “action list buy” rating in a report on Thursday, June 23rd. Mackie increased their price target on Canacol Energy from C$6.00 to C$6.50 and gave the stock a “buy” rating in a report on Wednesday, August 24th. Scotiabank reiterated an “outperform” rating and set a C$5.50 price target on shares of Canacol Energy in a report on Wednesday, August 24th. Finally, RBC Capital Markets set a C$4.60 price target on Canacol Energy and gave the stock a “sector perform” rating in a report on Tuesday, September 6th.
Canacol Energy (TSE:CNE) traded down 1.87% during mid-day trading on Friday, reaching $4.19. The company had a trading volume of 125,863 shares. Canacol Energy has a one year low of $1.97 and a one year high of $4.64. The stock has a 50 day moving average price of $4.22 and a 200 day moving average price of $3.97. The company’s market capitalization is $716.07 million.
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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