Canacol Energy (TSE:CNE) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Canacol Energy (TSE:CNE) from a neutral rating to an underperform rating in a research note released on Monday morning, BayStreet.CA reports. The firm currently has C$8.00 price objective on the oil and gas exploration company’s stock.

Separately, Jefferies Financial Group reduced their price objective on shares of Canacol Energy from C$6.70 to C$5.40 and set a hold rating on the stock in a research note on Monday, March 25th.

Canacol Energy Stock Down 1.0 %

CNE stock opened at C$4.90 on Monday. The company has a debt-to-equity ratio of 192.35, a current ratio of 0.92 and a quick ratio of 1.34. The firm has a market capitalization of C$167.14 million, a PE ratio of 1.42 and a beta of 0.86. The company’s 50 day simple moving average is C$4.98 and its 200-day simple moving average is C$6.16. Canacol Energy has a 12 month low of C$4.25 and a 12 month high of C$12.55.

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

Canacol Energy Company Profile

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.