Scotiabank Reiterates Outperform Rating for Canacol Energy (CNE)

Scotiabank reiterated their outperform rating on shares of Canacol Energy (TSE:CNE) in a research report report published on Tuesday morning. Scotiabank currently has a C$6.50 price target on the oil and gas exploration company’s stock.

CNE has been the topic of several other research reports. Eight Capital reduced their target price on shares of Canacol Energy from C$7.00 to C$6.75 in a research note on Wednesday, December 20th. CIBC lowered shares of Canacol Energy from an outperform rating to a neutral rating and reduced their target price for the company from C$5.50 to C$5.00 in a research note on Thursday, November 16th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Canacol Energy has an average rating of Buy and a consensus price target of C$5.95.

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Canacol Energy (TSE:CNE) opened at C$4.35 on Tuesday. The stock has a market cap of $765.12, a PE ratio of 25.59 and a beta of -0.08. Canacol Energy has a one year low of C$3.62 and a one year high of C$4.76.

In related news, insider Anthony Amar Zaidi sold 115,200 shares of Canacol Energy stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of C$4.30, for a total transaction of C$495,360.00. Insiders have sold a total of 121,300 shares of company stock worth $521,242 in the last three months.

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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.

Analyst Recommendations for Canacol Energy (TSE:CNE)

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