Cairn Energy PLC (CNE) Given Consensus Rating of “Buy” by Analysts
Cairn Energy PLC (LON:CNE) has received a consensus rating of “Buy” from the thirteen research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is GBX 242.84 ($3.23).
A number of brokerages recently weighed in on CNE. Peel Hunt began coverage on shares of Cairn Energy PLC in a research note on Monday, September 25th. They issued a “buy” rating and a GBX 240 ($3.19) target price on the stock. Barclays PLC reaffirmed an “overweight” rating and issued a GBX 240 ($3.19) target price on shares of Cairn Energy PLC in a research note on Tuesday, July 18th. Macquarie lowered their target price on shares of Cairn Energy PLC from GBX 270 ($3.59) to GBX 242 ($3.22) and set an “outperform” rating on the stock in a research note on Wednesday, June 21st. Canaccord Genuity raised their target price on shares of Cairn Energy PLC from GBX 240 ($3.19) to GBX 250 ($3.32) and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a GBX 228 ($3.03) target price on shares of Cairn Energy PLC in a research note on Monday, July 3rd.
In other news, insider Peter Kallos bought 10,982 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were purchased at an average price of GBX 181 ($2.40) per share, for a total transaction of £19,877.42 ($26,411.67).
Shares of Cairn Energy PLC (LON CNE) traded down 0.05% during midday trading on Wednesday, hitting GBX 192.90. 730,020 shares of the company traded hands. The stock’s market capitalization is GBX 1.11 billion. The stock has a 50 day moving average of GBX 184.56 and a 200-day moving average of GBX 186.93. Cairn Energy PLC has a 52 week low of GBX 164.20 and a 52 week high of GBX 250.60.
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About Cairn Energy PLC
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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