Cairn Energy PLC (CNE) Price Target Lowered to GBX 260 at Numis Securities Ltd
Cairn Energy PLC (LON:CNE) had its price target reduced by Numis Securities Ltd from GBX 270 ($3.56) to GBX 260 ($3.43) in a research report report published on Monday morning. They currently have a buy rating on the oil and gas development company’s stock.
A number of other research analysts also recently issued reports on the company. J P Morgan Chase & Co reiterated an overweight rating and set a GBX 228 ($3.01) price objective on shares of Cairn Energy PLC in a report on Wednesday, July 12th. GMP Securities reiterated a buy rating on shares of Cairn Energy PLC in a report on Tuesday, July 11th. Barclays PLC reiterated an overweight rating and set a GBX 240 ($3.17) price objective on shares of Cairn Energy PLC in a report on Tuesday, July 18th. Deutsche Bank AG reiterated a buy rating and set a GBX 240 ($3.17) price objective on shares of Cairn Energy PLC in a report on Friday, September 8th. Finally, Macquarie reiterated an outperform rating and set a GBX 242 ($3.19) price objective on shares of Cairn Energy PLC in a report on Tuesday, September 12th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of GBX 243.17 ($3.21).
Cairn Energy PLC (LON:CNE) opened at 202.70 on Monday. The stock’s market cap is GBX 1.17 billion. Cairn Energy PLC has a 1-year low of GBX 164.20 and a 1-year high of GBX 250.60. The firm’s 50-day moving average price is GBX 186.99 and its 200 day moving average price is GBX 186.80.
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In other news, insider Peter Kallos purchased 10,982 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was acquired at an average cost of GBX 181 ($2.39) per share, with a total value of £19,877.42 ($26,230.43).
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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