Cairn Energy (LON:CNE) Share Price Crosses Below 50-Day Moving Average of $162.17

Cairn Energy PLC (LON:CNE)’s stock price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $162.17 and traded as low as $175.50. Cairn Energy shares last traded at $177.70, with a volume of 1,345,514 shares.

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. set a €28.20 ($32.79) price objective on AXA and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Royal Bank of Canada reissued a “buy” rating and set a $97.00 price objective on shares of Prestige Consumer Healthcare in a research report on Friday, March 15th. Peel Hunt reissued a “not rated” rating on shares of Eco Atlantic Oil & Gas in a research report on Thursday, April 4th. Jefferies Financial Group reissued a “hold” rating on shares of COMPASS GRP PLC/S in a research report on Tuesday, April 9th. Finally, HSBC assumed coverage on Tullow Oil in a research report on Tuesday, May 28th. They set a “hold” rating for the company. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Cairn Energy has an average rating of “Buy” and a consensus target price of GBX 226.54 ($2.96).

The stock’s fifty day moving average price is GBX 162.42. The stock has a market cap of $1.05 billion and a P/E ratio of -0.91. The company has a debt-to-equity ratio of 19.21, a current ratio of 1.40 and a quick ratio of 1.08.

In other news, insider James Smith bought 1,123 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was bought at an average cost of GBX 160 ($2.09) per share, for a total transaction of £1,796.80 ($2,347.84).

About Cairn Energy (LON:CNE)

Cairn Energy PLC operates as an oil and gas exploration, development, and production company. The company holds a portfolio of exploration, development, and production assets in the United Kingdom; Norway; and the Atlantic Margin, including Senegal, Mexico, Suriname, Côte d'Ivoire, Mauritania, and the Republic of Ireland.

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