Canacol Energy’s (CNE) Outperform Rating Reaffirmed at Scotiabank
Canacol Energy (TSE:CNE)‘s stock had its “outperform” rating reiterated by equities researchers at Scotiabank in a research note issued to investors on Tuesday. They currently have a C$6.25 price objective on the oil and gas exploration company’s stock. Scotiabank’s price objective would indicate a potential upside of 47.75% from the stock’s current price.
CNE has been the topic of several other reports. CIBC cut Canacol Energy from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from C$5.50 to C$5.00 in a research note on Thursday, November 16th. Eight Capital restated a “buy” rating and set a C$7.00 price objective on shares of Canacol Energy in a research note on Wednesday, September 27th. Finally, Canaccord Genuity cut Canacol Energy from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$5.15 to C$4.75 in a research note on Thursday, September 21st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of C$5.80.
Shares of Canacol Energy (TSE CNE) traded up C$0.08 on Tuesday, reaching C$4.23. The company had a trading volume of 134,540 shares, compared to its average volume of 237,702. Canacol Energy has a 52-week low of C$3.62 and a 52-week high of C$4.76.
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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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