Analysts Set Cairn Energy PLC (CNE) Price Target at $235.69

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).

LON CNE traded up GBX 0.90 ($0.01) on Thursday, reaching GBX 169 ($2.21). 1,025,932 shares of the company’s stock traded hands, compared to its average volume of 1,590,000. Cairn Energy has a 12 month low of GBX 138 ($1.80) and a 12 month high of GBX 270.40 ($3.53). The company has a debt-to-equity ratio of 19.21, a current ratio of 1.40 and a quick ratio of 1.08. The stock has a market capitalization of $981.17 million and a P/E ratio of -0.86.

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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Analyst Recommendations for Cairn Energy (LON:CNE)

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