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

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

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

Canacol Energy Stock Down 0.6 %

Shares of CNE opened at C$4.95 on Monday. Canacol Energy has a one year low of C$4.25 and a one year high of C$12.55. The company has a market cap of C$168.84 million, a P/E ratio of 1.44 and a beta of 0.86. 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 50 day simple moving average of C$5.00 and a two-hundred day simple moving average of C$6.17.

Canacol Energy (TSE:CNE) last announced its quarterly earnings results on Thursday, March 21st. The oil and gas exploration company reported C$1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.72 by C$0.48. The company had revenue of C$132.05 million during 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%. Research analysts forecast that Canacol Energy will post 0.64 EPS 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.