Canacol Energy Ltd (OTCMKTS:CNNEF) Short Interest Up 98.6% in April

Canacol Energy Ltd (OTCMKTS:CNNEFGet Rating) saw a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 388,800 shares, an increase of 98.6% from the April 15th total of 195,800 shares. Based on an average daily volume of 31,600 shares, the days-to-cover ratio is currently 12.3 days.

Shares of CNNEF stock traded up $0.09 on Friday, hitting $2.06. 1,200 shares of the stock traded hands, compared to its average volume of 17,319. The firm’s 50-day moving average price is $2.42 and its two-hundred day moving average price is $2.52. Canacol Energy has a twelve month low of $1.96 and a twelve month high of $3.33.

Canacol Energy (OTCMKTS:CNNEFGet Rating) last announced its quarterly earnings results on Thursday, March 17th. The company reported $0.04 earnings per share for the quarter. The firm had revenue of $77.07 million for the quarter.

The company also recently declared a dividend, which was paid on Tuesday, April 19th. Stockholders of record on Thursday, March 31st were given a dividend of $0.0412 per share. This is a boost from Canacol Energy’s previous dividend of $0.04. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a dividend yield of 6.41%.

Separately, BMO Capital Markets lowered their target price on shares of Canacol Energy from C$4.00 to C$3.50 in a research note on Friday.

Canacol Energy Company Profile (Get Rating)

Canacol Energy Ltd., an oil and gas company, engages in the exploration, development, and production of natural gas in Colombia. As of December 31, 2021, it had a total proved developed producing reserves of 236 billion cubic feet (Bcf) conventional natural gas; a total proved plus probable reserves of 607 Bcf conventional natural gas; and a total proved reserves of 368 Bcf conventional natural gas.

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