Shares of Cairn Energy PLC (LON:CNE) have received an average rating of “Buy” from the thirteen research firms that are currently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is GBX 229.13 ($2.99).
CNE has been the topic of several recent analyst reports. Peel Hunt restated a “buy” rating on shares of Cairn Energy in a report on Tuesday, January 22nd. Berenberg Bank restated a “buy” rating and issued a GBX 190 ($2.48) target price on shares of Cairn Energy in a report on Tuesday, January 22nd. Canaccord Genuity raised their target price on shares of Cairn Energy from GBX 250 ($3.27) to GBX 260 ($3.40) and gave the stock a “speculative buy” rating in a report on Monday, February 25th. UBS Group restated a “buy” rating on shares of Cairn Energy in a report on Tuesday, March 12th. Finally, Numis Securities restated a “buy” rating and issued a GBX 275 ($3.59) target price on shares of Cairn Energy in a report on Tuesday, March 12th.
In other Cairn Energy news, insider James Smith purchased 1,123 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was bought at an average price of GBX 160 ($2.09) per share, with a total value of £1,796.80 ($2,347.84).
Cairn Energy Company Profile
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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