Canacol Energy (TSE:CNE – Get Free Report) had its target price lifted by research analysts at Jefferies Financial Group from C$5.40 to C$5.50 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The brokerage currently has a “hold” rating on the oil and gas exploration company’s stock. Jefferies Financial Group’s target price points to a potential upside of 14.58% from the stock’s previous close.
Separately, JPMorgan Chase & Co. downgraded shares of Canacol Energy from a “neutral” rating to an “underperform” rating and set a C$8.00 target price on the stock. in a research note on Monday, April 29th.
Get Our Latest Report on Canacol Energy
Canacol Energy Stock Performance
Canacol Energy (TSE:CNE – Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The oil and gas exploration company reported C$0.15 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.75 by C($0.60). The business had revenue of C$104.74 million for the quarter, compared to analyst estimates of C$100.34 million. Canacol Energy had a return on equity of 22.19% and a net margin of 22.61%. On average, analysts expect that Canacol Energy will post 0.2408551 earnings per share for the current year.
Insiders Place Their Bets
In other news, Director Charle Gamba purchased 10,000 shares of the stock in a transaction on Friday, May 24th. The stock was bought at an average price of C$4.87 per share, for a total transaction of C$48,700.00. 20.98% of the stock is currently owned by company insiders.
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.
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