Canacol Energy Ltd Stock Surges Above 200-Day Moving Average
April 15, 2023
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On Tuesday, the stock price of Canacol Energy ($TSX:CNE) Ltd surged past its two hundred day moving average, signaling a potential trend reversal. This increase is the culmination of two weeks of steady gains for the company, making it a major milestone. Canacol Energy Ltd is an independent oil and gas exploration and production company that has operations in Colombia and Ecuador. The company has been focusing heavily on the development of its Colombian assets, which are located in the Llanos and Putumayo Basins. The success of their operations has allowed them to expand their exploration and production activities into Ecuador, where they have also seen positive results.
The surge past the two hundred day moving average is a major milestone for Canacol Energy Ltd and bodes well for their future prospects. The success of their exploration and production activities have allowed them to increase their reserves and establish a strong foothold in the Latin American oil and gas market. Shareholders have been eagerly awaiting news of the company’s progress, which has resulted in an increase in stock prices. This recent move to surpass the two hundred day moving average marks a major step forward for Canacol Energy Ltd, and investors are likely to continue to reap the rewards of their success.
Price History
This marks a significant milestone for the company as it continues to increase its presence in the energy market. This is a sign of strong investor optimism and promises to further strengthen the company’s prospects in the future. Investors are hopeful that this bodes well for Canacol Energy Ltd and that it will continue to grow and thrive in the industry. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Canacol Energy. More…
| Total Revenues | Net Income | Net Margin |
| 335.71 | 147.27 | 48.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Canacol Energy. More…
| Operations | Investing | Financing |
| 185.43 | -179.91 | -80.67 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Canacol Energy. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.01k | 722.91 | 8.56 |
Key Ratios Snapshot
Some of the financial key ratios for Canacol Energy are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 11.5% | 11.5% | 29.8% |
| FCF Margin | ROE | ROA |
| 27.9% | 27.4% | 6.2% |
Analysis
At GoodWhale, we have conducted an analysis of CANACOL ENERGY‘s fundamentals to inform our Risk Rating. Our results have determined that CANACOL ENERGY is a medium risk investment in terms of financial and business aspects. We have also detected 2 risk warnings in the income sheet and balance sheet which could be worth further investigation. For investors looking to gain further insight into CANACOL ENERGY’s financial standing, we suggest signing up for the GoodWhale platform. Here, you can access detailed financial reports, risk ratings and other analytics to make informed decisions about your investments. More…
Peers
The company was founded in 2002 and is headquartered in Calgary, Alberta, Canada. Canacol Energy Ltd’s primary competitors are Sterling Energy Resources Inc, Velocity Energy Inc, and Bakken Energy Corp.
– Sterling Energy Resources Inc ($OTCPK:SGER)
Velocity Energy Inc. is a Canadian oil and gas company with a market capitalization of $2.29M as of 2022. The company is engaged in the exploration, development and production of oil and natural gas properties in Canada. Velocity Energy’s primary focus is on the development of its Montney natural gas assets in British Columbia. The company’s Montney assets are located in the Peace River Arch region, where it holds approximately 100,000 net acres of land. Velocity Energy is headquartered in Calgary, Alberta.
– Velocity Energy Inc ($OTCPK:VCYE)
Bakken Energy Corp is a publicly traded company with a market capitalization of 383.21k as of 2022. The company is engaged in the exploration, production, and development of oil and gas properties. Bakken Energy Corp has a return on equity of 1.81%.
Summary
Canacol Energy Ltd’s shares have been on an uptrend recently, having passed above its two hundred day moving average during trading on Tuesday. This is a positive sign for investors, as it indicates that the stock has been gaining momentum and could continue to go up. Fundamental analysis of the company’s financials shows that it is currently in a healthy financial position, with relatively low debt and a strong balance sheet.
Furthermore, the company is focused on developing oil and gas reserves in Colombia and Ecuador, which are both emerging markets with attractive investment opportunities. Overall, Canacol Energy Ltd appears to be a good investment prospect for investors seeking exposure to emerging markets.
