Cairn Energy PLC (LON:CNE) Receives Consensus Recommendation of “Buy” from Analysts
Cairn Energy PLC (LON:CNE) has been given an average rating of “Buy” by the thirteen analysts that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is GBX 256.52 ($3.30).
A number of research firms have recently issued reports on CNE. Jefferies Group LLC reissued a “buy” rating and set a GBX 300 ($3.86) price objective on shares of Cairn Energy PLC in a research report on Wednesday, May 17th. Macquarie cut their price objective on shares of Cairn Energy PLC from GBX 270 ($3.48) to GBX 242 ($3.12) and set an “outperform” rating on the stock in a research report on Wednesday, June 21st. Deutsche Bank AG reissued a “buy” rating on shares of Cairn Energy PLC in a research report on Monday, March 13th. J P Morgan Chase & Co reissued an “overweight” rating and set a GBX 228 ($2.94) price objective on shares of Cairn Energy PLC in a research report on Monday, July 3rd. Finally, Barclays PLC cut their price objective on shares of Cairn Energy PLC from GBX 295 ($3.80) to GBX 270 ($3.48) and set an “overweight” rating on the stock in a research report on Tuesday, April 11th.
In other news, insider Simon Thomson acquired 941 shares of the firm’s stock in a transaction on Friday, May 5th. The stock was purchased at an average price of GBX 191 ($2.46) per share, for a total transaction of £1,797.31 ($2,314.03). Also, insider Iain McLaren acquired 25,000 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was purchased at an average price of GBX 209 ($2.69) per share, with a total value of £52,250 ($67,271.79).
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Cairn Energy PLC (CNE) traded down 1.84% during mid-day trading on Monday, hitting GBX 170.40. The company’s stock had a trading volume of 1,442,465 shares. The firm has a 50 day moving average of GBX 193.12 and a 200-day moving average of GBX 212.45. The firm’s market cap is GBX 979.74 million. Cairn Energy PLC has a 52-week low of GBX 164.20 and a 52-week high of GBX 250.60.
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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