Canaccord Genuity Thinks Chinook Energy’s Stock is Going to Recover

By Austin Angelo

In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Chinook Energy (TSX: CKE). Analyst Anthony Petrucci from Canaccord Genuity reiterated a Buy rating, with a C$0.60 price target yesterday.

According to TipRanks.com, Petrucci is ranked 0 out of 5 stars with an average return of -4.2% and a 26.6% success rate. Petrucci covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Crescent Point Energy, and Bellatrix Exploration.

Chinook Energy has an analyst consensus of Moderate Sell, with a price target consensus of C$0.43.

Chinook Energy’s market cap is currently C$62.77M and has a P/E ratio of 0.

Chinook Energy, Inc. is an oil and gas exploration and development company, which engages in the exploration and development of natural gas, crude oil, natural gas liquids and other related mineral properties. It currently has exploration operations in Canada and onshore and offshore Tunisia. The company was founded on June 29, 2010 and is headquartered in Calgary, Canada.

The company’s shares closed last Monday at $0.29, close to its 52-week low of $0.27.