Eight Capital Trims Canacol Energy (CNE) Target Price to C$7.00

Canacol Energy (TSE:CNE) had its price objective lowered by Eight Capital from C$7.25 to C$7.00 in a report issued on Tuesday morning.

Separately, Scotiabank restated an outperform rating and set a C$6.50 target price on shares of Canacol Energy in a report on Wednesday, May 16th.

Shares of Canacol Energy opened at C$4.25 on Tuesday, according to MarketBeat.com. Canacol Energy has a 52-week low of C$3.85 and a 52-week high of C$4.76.

Canacol Energy (TSE:CNE) last posted its earnings results on Tuesday, May 15th. The oil and gas exploration company reported C$0.06 earnings per share for the quarter. Canacol Energy had a negative net margin of 4.12% and a negative return on equity of 1.57%. The firm had revenue of C$65.43 million during the quarter.

In other Canacol Energy news, Director Charle Gamba sold 56,860 shares of the firm’s stock in a transaction dated Thursday, May 31st. The shares were sold at an average price of C$4.23, for a total transaction of C$240,517.80.

Canacol Energy Company Profile

Canacol Energy Ltd. primarily engages in the exploration and development of petroleum and natural gas properties in Colombia. The company has proved and probable reserves of 505 billion cubic feet of gas and 14 million barrels of oil. Canacol Energy Ltd. is headquartered in Calgary, Canada.

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