Brokerages Set Cairn Energy PLC (LON:CNE) Target Price at GBX 226.44

Cairn Energy PLC (LON:CNE) has earned a consensus recommendation of “Buy” from the fourteen analysts that are covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is GBX 226.44 ($2.96).

A number of equities research analysts recently issued reports on CNE shares. HSBC started coverage on shares of Cairn Energy in a report on Tuesday, May 28th. They issued a “buy” rating and a GBX 210 ($2.74) price objective for the company. Jefferies Financial Group reiterated a “hold” rating on shares of Cairn Energy in a report on Tuesday, April 9th. Barclays reiterated an “overweight” rating on shares of Cairn Energy in a report on Tuesday, April 16th. Canaccord Genuity decreased their price objective on shares of Cairn Energy from GBX 235 ($3.07) to GBX 230 ($3.01) and set a “speculative buy” rating for the company in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Cairn Energy from GBX 271 ($3.54) to GBX 268 ($3.50) and set an “overweight” rating for the company in a report on Thursday, May 2nd.

Cairn Energy stock opened at GBX 148 ($1.93) on Tuesday. The firm’s fifty day moving average is GBX 164.53. The company has a debt-to-equity ratio of 19.21, a quick ratio of 1.08 and a current ratio of 1.40. Cairn Energy has a 12 month low of GBX 138 ($1.80) and a 12 month high of GBX 253.80 ($3.32). The stock has a market cap of $872.48 million and a PE ratio of -0.76.

In other news, insider James Smith bought 1,123 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was purchased at an average price of GBX 160 ($2.09) per share, with a total value of £1,796.80 ($2,347.84).

About Cairn Energy

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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Analyst Recommendations for Cairn Energy (LON:CNE)

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