Cairn Energy PLC (LON:CNE) Earns “Buy” Rating from GMP Securities
Cairn Energy PLC (LON:CNE)‘s stock had its “buy” rating reiterated by equities research analysts at GMP Securities in a research note issued on Tuesday, July 11th.
Several other equities analysts have also issued reports on the company. Deutsche Bank AG reissued a “buy” rating and issued a GBX 275 ($3.63) price target on shares of Cairn Energy PLC in a research note on Tuesday, April 18th. Credit Suisse Group boosted their price target on Cairn Energy PLC from GBX 260 ($3.43) to GBX 285 ($3.76) and gave the company an “outperform” rating in a research note on Friday, March 24th. Royal Bank Of Canada raised Cairn Energy PLC to an “outperform” rating and boosted their price target for the company from GBX 250 ($3.30) to GBX 270 ($3.56) in a research note on Friday, March 17th. J P Morgan Chase & Co dropped their price target on Cairn Energy PLC from GBX 235 ($3.10) to GBX 228 ($3.01) and set an “overweight” rating on the stock in a research note on Wednesday, May 17th. Finally, Barclays PLC dropped their price target on Cairn Energy PLC from GBX 295 ($3.89) to GBX 270 ($3.56) and set an “overweight” rating on the stock in a research note on Tuesday, April 11th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Cairn Energy PLC has a consensus rating of “Buy” and a consensus price target of GBX 256.40 ($3.38).
Cairn Energy PLC (LON:CNE) traded down 3.09% on Tuesday, hitting GBX 172.60. 1,093,295 shares of the stock traded hands. The firm’s market cap is GBX 992.39 million. Cairn Energy PLC has a 12-month low of GBX 164.20 and a 12-month high of GBX 250.60. The stock has a 50-day moving average of GBX 175.92 and a 200-day moving average of GBX 202.93.
In related news, insider Iain McLaren purchased 25,000 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was acquired at an average cost of GBX 209 ($2.76) per share, with a total value of £52,250 ($68,922.31).
Cairn Energy PLC Company Profile
Cairn Energy PLC (Cairn) is a United Kingdom-based independent oil and gas exploration and development company. The Company’s portfolio is focused on approximately three geographical regions, such as North West Europe, the Atlantic Margin and the Mediterranean. Cairn has exploration and appraisal assets in the Atlantic Margin, North West Europe and the Mediterranean, and core development assets in the North Sea.
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