Canacol Energy (TSE:CNE) Downgraded to Underperform at JPMorgan Chase & Co.

Canacol Energy (TSE:CNE) was downgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating in a research note issued on Monday, BayStreet.CA reports. They currently have a C$8.00 price target on the oil and gas exploration company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 60.00% from the stock’s current price.

Separately, Jefferies Financial Group reduced their price target on Canacol Energy from C$6.70 to C$5.40 and set a “hold” rating for the company in a report on Monday, March 25th.

Canacol Energy Stock Performance

Canacol Energy stock traded up C$0.07 during mid-day trading on Monday, reaching C$5.00. 16,507 shares of the company were exchanged, compared to its average volume of 59,866. The firm’s 50-day simple moving average is C$5.02 and its two-hundred day simple moving average is C$6.25. Canacol Energy has a twelve month low of C$4.25 and a twelve month high of C$12.55. The firm has a market cap of C$170.55 million, a PE ratio of 1.45 and a beta of 0.86. The company has a debt-to-equity ratio of 192.35, a quick ratio of 1.34 and a current ratio of 0.92.

Canacol Energy (TSE:CNE) last released its earnings results on Thursday, March 21st. The oil and gas exploration company reported C$1.20 EPS for the quarter, topping the consensus estimate of C$0.72 by C$0.48. Canacol Energy had a net margin of 27.31% and a return on equity of 26.80%. The company had revenue of C$132.05 million during the quarter, compared to analysts’ expectations of C$96.48 million. Equities analysts predict that Canacol Energy will post 0.64 earnings per share for the current fiscal year.

About Canacol Energy

Canacol Energy Ltd operates as an oil and gas company in Colombia. It engages in the exploration and development of natural gas. The company was formerly known as BrazAlta Resources Corp. and changed its name to Canacol Energy Ltd in February 2009. The company was incorporated in 1970 and is headquartered in Calgary, Canada.