Peel Hunt reaffirmed their buy rating on shares of Cairn Energy (LON:CNE) in a report issued on Tuesday morning, ThisIsMoney.Co.Uk reports.
Other equities research analysts also recently issued reports about the company. HSBC initiated coverage on Cairn Energy in a report on Tuesday, May 28th. They issued a buy rating and a GBX 210 ($2.74) price target for the company. Canaccord Genuity decreased their price objective on 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. Royal Bank of Canada decreased their price objective on Cairn Energy from GBX 225 ($2.94) to GBX 220 ($2.87) and set a sector performer rating for the company in a report on Thursday, July 18th. JPMorgan Chase & Co. decreased their price objective on 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. Finally, Jefferies Financial Group reiterated a hold rating on shares of Cairn Energy in a report on Tuesday, April 9th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of GBX 226.15 ($2.96).
Shares of Cairn Energy stock opened at GBX 149.20 ($1.95) on Tuesday. Cairn Energy has a 1 year low of GBX 138 ($1.80) and a 1 year high of GBX 253.80 ($3.32). The stock has a 50-day simple moving average of GBX 164.69. The company has a market capitalization of $878.38 million and a P/E ratio of -0.76. The company has a quick ratio of 1.08, a current ratio of 1.40 and a debt-to-equity ratio of 19.21.
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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