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

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

The stock of Canacol Energy Ltd (TSE:CNE) is a huge mover today! About 102,116 shares traded hands. Canacol Energy Ltd (TSE:CNE) has risen 17.24% since April 19, 2016 and is uptrending. It has outperformed by 11.91% the S&P500.
The move comes after 7 months positive chart setup for the $779.84M company. It was reported on Nov, 23 by Barchart.com. We have $4.87 PT which if reached, will make TSE:CNE worth $54.59M more.

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 $5.53 average target is 21.54% above today’s ($4.55) stock price. Canacol Energy has been the topic of 15 analyst reports since September 2, 2015 according to StockzIntelligence Inc. TD Securities maintained Canacol Energy Ltd (TSE:CNE) on Friday, November 11 with “Buy” rating. On Wednesday, August 24 the stock rating was maintained by Scotia Capital with “Outperform”. On Thursday, September 22 the stock rating was maintained by Scotia Capital with “Outperform”. Scotia Capital maintained Canacol Energy Ltd (TSE:CNE) on Tuesday, June 7 with “Outperform” rating.

More notable recent Canacol Energy Ltd (TSE:CNE) news were published by: Marketwatch.com which released: “Canacol Energy Ltd. Negotiates New Gas Sales Contracts, Initiates Private Gas …” on November 23, 2016, also Marketwired.com with their article: “Canacol Energy Ltd. Tests Nispero 1 Exploration Well at 28 MMSCFPD, Expands …” published on August 23, 2016, Bloomberg.com published: “Top Colombia Stock Canacol Energy Nears New Gas Sale Contracts” on August 30, 2016. More interesting news about Canacol Energy Ltd (TSE:CNE) were released by: Marketwired.com and their article: “Canacol Energy Ltd. Announces Closing of Private Placement” published on August 02, 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 $779.84 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.

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