Rating of The Day: Canacol Energy (TSE:CNE) Had Its PT Increased by Professional Analysts at Scotia Capital to $6.25

November 25, 2016 - By Vivian Park

Canacol Energy (TSE:CNE) Stock Target Increased

In an analyst report made public by Scotia Capital on 25 November, Canacol Energy (TSE:CNE) had its price target increased to $6.25. The firm now has Outperform rating on the stock.

Canacol Energy Ltd (TSE:CNE) Ratings Coverage

Out of 5 analysts covering Canacol Energy (TSE:CNE), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. $6.90 is the highest target while $2.10 is the lowest. The $5.60 average target is 20.95% above today’s ($4.63) stock price. Canacol Energy has been the topic of 16 analyst reports since September 2, 2015 according to StockzIntelligence Inc. The stock of Canacol Energy Ltd (TSE:CNE) earned “Buy” rating by TD Securities on Friday, November 11. Scotia Capital maintained the stock with “Outperform” rating in Tuesday, June 7 report. The rating was maintained by Scotia Capital with “Outperform” on Wednesday, August 24. Scotia Capital maintained the shares of CNE in a report on Thursday, September 22 with “Outperform” rating.

About 208,022 shares traded hands. Canacol Energy Ltd (TSE:CNE) has risen 19.55% since April 21, 2016 and is uptrending. It has outperformed by 14.14% the S&P500.

Canacol Energy Ltd. is a Canada-based gas and oil exploration and production company. The company has a market cap of $812.84 million. The Firm is engaged in petroleum and natural gas exploration and development activities in Colombia and Ecuador. It currently has negative earnings. It owns approximately 0.5% interest in Oleoducto Bicentenario de Colombia , which owns a pipeline system that focuses on linking Llanos basin oil production to the Cano Limon oil pipeline system.

More important recent Canacol Energy Ltd (TSE:CNE) news were published by: Marketwired.com which released: “Canacol Energy Ltd. Tests Nispero 1 Exploration Well at 28 MMSCFPD, Expands …” on August 23, 2016, also Bloomberg.com published article titled: “Top Colombia Stock Canacol Energy Nears New Gas Sale Contracts”, Marketwired.com published: “Canacol Energy Ltd. Announces Closing of Private Placement” on August 02, 2016. More interesting news about Canacol Energy Ltd (TSE:CNE) was released by: Marketwired.com and their article: “Canacol Energy Ltd. Tests 26 MMSCFPD (4561 BOEPD) from First of Three Planned …” with publication date: February 24, 2016.

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