Canacol Energy (TSE:CNE) Stock Rating Lowered by JPMorgan Chase & Co.

Canacol Energy (TSE:CNE) was downgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating in a note issued to investors on Monday, BayStreet.CA reports. They currently have a C$8.00 price target on the oil and gas exploration company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 61.62% from the company’s current price.

Separately, Jefferies Financial Group reduced their price target on Canacol Energy from C$6.70 to C$5.40 and set a “hold” rating on the stock in a report on Monday, March 25th.

Canacol Energy Trading Down 0.6 %

Shares of CNE stock opened at C$4.95 on Monday. Canacol Energy has a fifty-two week low of C$4.25 and a fifty-two week high of C$12.55. The company has a debt-to-equity ratio of 192.35, a quick ratio of 1.34 and a current ratio of 0.92. The stock’s fifty day moving average is C$5.00 and its two-hundred day moving average is C$6.17. The firm has a market capitalization of C$168.84 million, a P/E ratio of 1.44 and a beta of 0.86.

Canacol Energy (TSE:CNE) last posted its quarterly earnings results on Thursday, March 21st. The oil and gas exploration company reported C$1.20 EPS for the quarter, topping the consensus estimate of C$0.72 by C$0.48. Canacol Energy had a return on equity of 26.80% and a net margin of 27.31%. The business had revenue of C$132.05 million for the quarter, compared to analyst estimates of C$96.48 million. Research analysts expect that Canacol Energy will post 0.64 earnings per share for the current fiscal year.

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.