Cairn Energy PLC’s (CNE) “Buy” Rating Reaffirmed at Jefferies Group LLC
Jefferies Group LLC reaffirmed their buy rating on shares of Cairn Energy PLC (LON:CNE) in a research note released on Wednesday. They currently have a GBX 225 ($2.98) price target on the oil and gas development company’s stock.
Several other research analysts also recently commented on CNE. Macquarie reduced their price objective on Cairn Energy PLC from GBX 270 ($3.58) to GBX 242 ($3.21) and set an outperform rating for the company in a research note on Wednesday, June 21st. Barclays PLC cut their target price on Cairn Energy PLC from GBX 270 ($3.58) to GBX 240 ($3.18) and set an overweight rating for the company in a research note on Thursday, June 22nd. J P Morgan Chase & Co reaffirmed an overweight rating and issued a GBX 228 ($3.02) target price on shares of Cairn Energy PLC in a research note on Monday, July 3rd. Deutsche Bank AG cut their target price on Cairn Energy PLC from GBX 275 ($3.65) to GBX 232 ($3.08) and set a buy rating for the company in a research note on Thursday, July 6th. Finally, GMP Securities reaffirmed a buy rating on shares of Cairn Energy PLC in a research note on Tuesday, July 11th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Cairn Energy PLC presently has a consensus rating of Buy and a consensus price target of GBX 244.71 ($3.25).
Shares of Cairn Energy PLC (LON CNE) traded up 2.95% during midday trading on Wednesday, reaching GBX 195.20. 961,260 shares of the company traded hands. The stock has a 50 day moving average price of GBX 180.41 and a 200 day moving average price of GBX 187.74. Cairn Energy PLC has a 1-year low of GBX 164.20 and a 1-year high of GBX 250.60. The firm’s market capitalization is GBX 1.12 billion.
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In other Cairn Energy PLC news, insider Peter Kallos purchased 10,982 shares of the stock in a transaction dated Wednesday, September 13th. The stock was acquired at an average cost of GBX 181 ($2.40) per share, for a total transaction of £19,877.42 ($26,366.12).
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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