Canacol Energy Ltd (CNE) Downgraded by Canaccord Genuity
Canaccord Genuity downgraded shares of Canacol Energy Ltd (TSE:CNE) from a buy rating to a hold rating in a research report report published on Thursday morning, StockTargetPrices.com reports. The brokerage currently has C$4.75 price objective on the oil and gas exploration company’s stock, down from their previous price objective of C$5.15.
Canacol Energy (TSE:CNE) opened at 4.11 on Thursday. The firm has a market cap of $722.54 million and a PE ratio of 45.67. The firm’s 50 day moving average price is $4.18 and its 200-day moving average price is $4.10. Canacol Energy has a one year low of $3.62 and a one year high of $4.80.
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Canacol Energy Company Profile
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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