Canacol Energy (TSE:CNE) Downgraded by JPMorgan Chase & Co. to “Underperform”

Canacol Energy (TSE:CNE) was downgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating in a research note issued to investors on Monday, BayStreet.CA reports. They presently have a C$8.00 price target on the oil and gas exploration company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 60.00% from the stock’s previous close.

Separately, Jefferies Financial Group dropped their price target on Canacol Energy from C$6.70 to C$5.40 and set a “hold” rating for the company in a research note on Monday, March 25th.

Canacol Energy Price Performance

Shares of CNE traded up C$0.07 during midday trading on Monday, hitting C$5.00. The company’s stock had a trading volume of 16,507 shares, compared to its average volume of 59,866. The company has a quick ratio of 1.34, a current ratio of 0.92 and a debt-to-equity ratio of 192.35. Canacol Energy has a one year low of C$4.25 and a one year high of C$12.55. The stock has a market capitalization of C$170.55 million, a price-to-earnings ratio of 1.45 and a beta of 0.86. The company’s fifty day simple moving average is C$5.02 and its two-hundred day simple moving average is C$6.25.

Canacol Energy (TSE:CNE) last posted its earnings results on Thursday, March 21st. The oil and gas exploration company reported C$1.20 EPS for the quarter, topping analysts’ consensus estimates of C$0.72 by C$0.48. The firm had revenue of C$132.05 million during the quarter, compared to analysts’ expectations of C$96.48 million. Canacol Energy had a net margin of 27.31% and a return on equity of 26.80%. As a group, equities 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.