Is Canacol Energy Ltd a Buy? The Stock Rises Again

 Is Canacol Energy Ltd a Buy? The Stock Rises Again

The stock of Canacol Energy Ltd (TSE:CNE) is a huge mover today! About 274,470 shares traded hands. Canacol Energy Ltd (TSE:CNE) has risen 26.44% since April 7, 2016 and is uptrending. It has outperformed by 20.30% the S&P500.
The move comes after 5 months positive chart setup for the $709.47 million company. It was reported on Nov, 11 by Barchart.com. We have $6.36 PT which if reached, will make TSE:CNE worth $361.83 million more.

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. $6.90 is the highest target while $2.10 is the lowest. The $5.58 average target is 32.54% above today’s ($4.21) stock price. Canacol Energy has been the topic of 12 analyst reports since September 2, 2015 according to StockzIntelligence Inc. The company was maintained on Tuesday, June 7 by Scotia Capital. On Thursday, September 22 the stock rating was maintained by Scotia Capital with “Outperform”. Scotia Capital maintained Canacol Energy Ltd (TSE:CNE) on Wednesday, August 24 with “Outperform” rating.

More notable recent Canacol Energy Ltd (TSE:CNE) news were published by: Marketwatch.com which released: “Canacol Energy Ltd. Executes Agreement with Promigas SA to Increase Corporate …” on November 10, 2016, also Marketwired.com with their article: “Canacol Energy Ltd. Tests Nispero 1 Exploration Well at 28 MMSCFPD, Expands …” published on August 23, 2016, Marketwired.com published: “Canacol Energy Ltd. Announces Closing of Private Placement” on August 02, 2016. More interesting news about Canacol Energy Ltd (TSE:CNE) were released by: Bloomberg.com and their article: “Top Colombia Stock Canacol Energy Nears New Gas Sale Contracts” published on August 30, 2016 as well as Marketwired.com‘s news article titled: “Canacol Energy Ltd. Tests 26 MMSCFPD (4561 BOEPD) from First of Three Planned …” with publication date: February 24, 2016.

Canacol Energy Ltd. is a Canada-based gas and oil exploration and production company. The company has a market cap of $709.47 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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