Cairn Energy PLC (CNE) Receives Average Rating of “Buy” from Analysts

Shares of Cairn Energy PLC (LON:CNE) have been given a consensus recommendation of “Buy” by the seventeen ratings firms that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is GBX 252.61 ($3.30).

A number of equities research analysts have recently weighed in on CNE shares. Peel Hunt dropped their target price on Cairn Energy from GBX 280 ($3.66) to GBX 260 ($3.40) and set an “add” rating for the company in a research report on Thursday, September 13th. Barclays lifted their price objective on Cairn Energy from GBX 295 ($3.85) to GBX 300 ($3.92) and gave the stock an “overweight” rating in a research note on Wednesday, October 10th. Morgan Stanley lifted their price objective on Cairn Energy from GBX 300 ($3.92) to GBX 350 ($4.57) and gave the stock an “overweight” rating in a research note on Thursday, October 18th. Jefferies Financial Group cut Cairn Energy to an “underperform” rating and set a GBX 190 ($2.48) price objective for the company. in a research note on Monday, October 22nd. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Cairn Energy in a research note on Friday, October 26th.

In other news, insider Simon Thomson acquired 31,812 shares of Cairn Energy stock in a transaction dated Tuesday, December 11th. The stock was bought at an average cost of GBX 156 ($2.04) per share, with a total value of £49,626.72 ($64,846.10).

Cairn Energy stock opened at GBX 184.50 ($2.41) on Friday. Cairn Energy has a one year low of GBX 164.20 ($2.15) and a one year high of GBX 237 ($3.10).

About Cairn Energy

Cairn Energy PLC operates as an oil and gas exploration and production company. It holds a portfolio of exploration, development, and production assets in the United Kingdom; Norway; Mexico; and the Atlantic Margin, including Senegal and the Republic of Ireland. The company was incorporated in 2002 and is headquartered in Edinburgh, the United Kingdom.

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Analyst Recommendations for Cairn Energy (LON:CNE)

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