Cairn Energy PLC (LON:CNE) Receives Average Rating of “Buy” from Analysts
Cairn Energy PLC (LON:CNE) has earned a consensus recommendation of “Buy” from the thirteen analysts that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is GBX 225.89 ($2.95).
Several equities research analysts have weighed in on the stock. Peel Hunt reiterated a “buy” rating on shares of Cairn Energy in a report on Tuesday, August 6th. Berenberg Bank reiterated a “buy” rating and issued a GBX 190 ($2.48) target price on shares of Cairn Energy in a report on Tuesday, May 21st. JPMorgan Chase & Co. cut their target price on shares of Cairn Energy from GBX 271 ($3.54) to GBX 268 ($3.50) and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Royal Bank of Canada increased their target price on shares of Cairn Energy from GBX 185 ($2.42) to GBX 195 ($2.55) and gave the stock a “sector performer” rating in a report on Friday, August 16th. Finally, Barclays reiterated an “overweight” rating and issued a GBX 245 ($3.20) target price on shares of Cairn Energy in a report on Friday, August 16th.
CNE stock traded down GBX 4.80 ($0.06) during midday trading on Friday, reaching GBX 161.20 ($2.11). The company’s stock had a trading volume of 678,271 shares, compared to its average volume of 1,590,000. Cairn Energy has a 52 week low of GBX 138 ($1.80) and a 52 week high of GBX 247.60 ($3.24). The stock has a market cap of $950.30 million and a PE ratio of -0.82. The company has a quick ratio of 1.08, a current ratio of 1.40 and a debt-to-equity ratio of 19.21. The business’s 50-day simple moving average is GBX 161.96 and its 200-day simple moving average is GBX 170.19.
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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