Shares of Cairn Energy plc (LON:CNE) have been assigned an average rating of “Buy” from the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is GBX 242.60 ($3.27).
CNE has been the subject of several recent analyst reports. Royal Bank Of Canada cut their target price on shares of Cairn Energy from GBX 270 ($3.63) to GBX 230 ($3.10) and set an “outperform” rating for the company in a research note on Tuesday, August 22nd. Numis Securities reiterated a “buy” rating and issued a GBX 270 ($3.63) target price on shares of Cairn Energy in a research note on Monday, September 11th. Credit Suisse Group reiterated an “outperform” rating and issued a GBX 260 ($3.50) target price on shares of Cairn Energy in a research note on Thursday. Jefferies Group cut their price objective on shares of Cairn Energy from GBX 300 ($4.04) to GBX 225 ($3.03) and set a “buy” rating for the company in a research report on Tuesday, August 29th. Finally, Deutsche Bank restated a “buy” rating and set a GBX 240 ($3.23) price objective on shares of Cairn Energy in a research report on Friday, September 8th.
Cairn Energy (LON:CNE) traded down GBX 0.60 ($0.01) during mid-day trading on Thursday, reaching GBX 209.80 ($2.82). The company’s stock had a trading volume of 881,866 shares, compared to its average volume of 1,650,000. Cairn Energy has a 52-week low of GBX 164.20 ($2.21) and a 52-week high of GBX 250.60 ($3.37).
In other Cairn Energy news, insider Peter Kallos bought 10,982 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was bought at an average cost of GBX 181 ($2.44) per share, with a total value of £19,877.42 ($26,752.92).
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Cairn Energy 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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