Barclays PLC Lowers Cairn Energy PLC (CNE) Price Target to GBX 240
Cairn Energy PLC (LON:CNE) had its price objective decreased by equities research analysts at Barclays PLC from GBX 270 ($3.44) to GBX 240 ($3.06) in a report issued on Thursday. The firm currently has an “overweight” rating on the oil and gas development company’s stock. Barclays PLC’s target price indicates a potential upside of 41.26% from the stock’s previous close.
Several other equities research analysts also recently issued reports on CNE. Macquarie cut their target price on shares of Cairn Energy PLC from GBX 270 ($3.44) to GBX 242 ($3.08) and set an “outperform” rating for the company in a research note on Wednesday. Canaccord Genuity raised their target price on shares of Cairn Energy PLC from GBX 275 ($3.50) to GBX 280 ($3.57) and gave the company a “buy” rating in a research note on Thursday, March 9th. Deutsche Bank AG reiterated a “buy” rating on shares of Cairn Energy PLC in a research note on Monday, March 13th. J P Morgan Chase & Co cut their target price on shares of Cairn Energy PLC from GBX 235 ($2.99) to GBX 228 ($2.90) and set an “overweight” rating for the company in a research note on Wednesday, May 17th. Finally, Royal Bank Of Canada upgraded shares of Cairn Energy PLC to an “outperform” rating and raised their target price for the company from GBX 250 ($3.19) to GBX 270 ($3.44) in a research note on Friday, March 17th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Cairn Energy PLC currently has a consensus rating of “Buy” and a consensus price target of GBX 256.44 ($3.27).
Cairn Energy PLC (LON:CNE) opened at 169.90 on Thursday. The stock has a 50 day moving average price of GBX 197.18 and a 200-day moving average price of GBX 214.69. The company’s market capitalization is GBX 976.87 million. Cairn Energy PLC has a 1-year low of GBX 167.20 and a 1-year high of GBX 250.60.
In other news, insider James Smith sold 133,494 shares of the firm’s stock in a transaction that occurred on Thursday, April 6th. The shares were sold at an average price of GBX 201 ($2.56), for a total transaction of £268,322.94 ($341,856.21). Also, insider Simon Thomson bought 941 shares of the stock in a transaction dated Friday, May 5th. The shares were acquired at an average cost of GBX 191 ($2.43) per share, for a total transaction of £1,797.31 ($2,289.86).
Cairn Energy PLC Company Profile
Cairn Energy PLC (Cairn) is a United Kingdom-based independent oil and gas exploration and development company. The Company’s portfolio is focused on approximately three geographical regions, such as North West Europe, the Atlantic Margin and the Mediterranean. Cairn has exploration and appraisal assets in the Atlantic Margin, North West Europe and the Mediterranean, and core development assets in the North Sea.
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