Canacol Energy Ltd. (CNE) Stock Rating Reaffirmed by TD Securities
Canacol Energy Ltd. (TSE:CNE)‘s stock had its “buy” rating restated by investment analysts at TD Securities in a research note issued on Tuesday. They currently have a C$5.50 price target on the oil and gas exploration company’s stock. TD Securities’ price target indicates a potential upside of 17.27% from the stock’s current price.
Other analysts also recently issued reports about the company. Canaccord Genuity upped their price objective on Canacol Energy from C$5.25 to C$5.75 in a research report on Friday, July 29th. Mackie upped their price objective on Canacol Energy from C$6.00 to C$6.50 and gave the stock a “buy” rating in a research report on Wednesday, August 24th. Scotiabank restated an “outperform” rating and set a C$5.50 price objective on shares of Canacol Energy in a research report on Wednesday, July 27th. RBC Capital Markets set a C$4.60 price objective on Canacol Energy and gave the stock a “sector perform” rating in a research report on Tuesday, September 6th. Finally, Royal Bank Of Canada started coverage on Canacol Energy in a research report on Tuesday, September 6th. They set a “sector perform” rating for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of C$5.26.
Canacol Energy (TSE:CNE) traded down 2.99% during trading on Tuesday, hitting $4.55. The stock had a trading volume of 576,000 shares. The company has a 50-day moving average of $4.29 and a 200 day moving average of $4.10. Canacol Energy has a 52 week low of $1.97 and a 52 week high of $4.77. The company’s market cap is $777.59 million.
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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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