Could Canacol Energy Ltd Change Direction After Today’s Huge Decline?

 Could Canacol Energy Ltd Change Direction After Today's Huge Decline?

The stock of Canacol Energy Ltd (TSE:CNE) is a huge mover today! About 137,330 shares traded hands. Canacol Energy Ltd (TSE:CNE) has risen 27.38% since March 24, 2016 and is uptrending. It has outperformed by 23.91% the S&P500.
The move comes after 9 months negative chart setup for the $719.58M company. It was reported on Oct, 31 by Barchart.com. We have $3.87 PT which if reached, will make TSE:CNE worth $50.37 million less.

Canacol Energy Ltd (TSE:CNE) Ratings Coverage

Out of 4 analysts covering Canacol Energy (TSE:CNE), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Canacol Energy has been the topic of 12 analyst reports since September 2, 2015 according to StockzIntelligence Inc. Scotia Capital maintained Canacol Energy Ltd (TSE:CNE) on Tuesday, June 7 with “Outperform” rating. The firm has “Outperform” rating by Scotia Capital given on Thursday, September 22. Scotia Capital maintained the stock with “Outperform” rating in Wednesday, August 24 report.

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 Marketwired.com published article titled: “Canacol Energy Ltd. Tests Trombon 1 Discovery at 26 MMSCFPD”, Marketwired.com published: “Canacol Energy Ltd. Provides Production and Operations Update: Current …” on February 16, 2016. More interesting news about Canacol Energy Ltd (TSE:CNE) was released by: Marketwired.com and their article: “Canacol Energy Ltd. Announces Strategic Financing With Apollo Investment …” with publication date: October 29, 2014.

Canacol Energy Ltd. is a Canada-based gas and oil exploration and production company. The company has a market cap of $719.58 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.

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