Cairn Energy PLC (LON:CNE) Given Consensus Rating of “Buy” by Analysts

Cairn Energy PLC (LON:CNE) has been given a consensus rating of “Buy” by the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is GBX 203.86 ($2.66).

A number of research analysts recently commented on CNE shares. Berenberg Bank lowered shares of Cairn Energy to a “hold” rating and decreased their price target for the company from GBX 200 ($2.61) to GBX 170 ($2.22) in a research note on Tuesday, June 29th. Canaccord Genuity reiterated a “hold” rating and issued a GBX 200 ($2.61) price target (down previously from GBX 210 ($2.74)) on shares of Cairn Energy in a research note on Wednesday, March 31st.

LON CNE traded down GBX 1.10 ($0.01) during trading hours on Thursday, reaching GBX 134.30 ($1.75). 756,680 shares of the company’s stock were exchanged, compared to its average volume of 1,228,879. Cairn Energy has a one year low of GBX 127.70 ($1.67) and a one year high of GBX 283.64 ($3.71). The company has a debt-to-equity ratio of 21.32, a current ratio of 4.64 and a quick ratio of 4.47. The business’s 50-day moving average price is GBX 480.60. The firm has a market capitalization of £670.52 million and a P/E ratio of -2.32.

In other Cairn Energy news, insider James Smith bought 1,038 shares of the firm’s stock in a transaction on Thursday, May 6th. The shares were purchased at an average price of GBX 173 ($2.26) per share, for a total transaction of £1,795.74 ($2,346.15).

Cairn Energy Company Profile

Cairn Energy PLC operates as an independent oil and gas exploration, development, and production company. It holds a portfolio of exploration, development, and production assets in the United Kingdom, Israel, Mauritania, Cote d'Ivoire, Mexico, and Suriname. The company was founded in 1980 and is headquartered in Edinburgh, the United Kingdom.

Further Reading: Ex-Dividend

Analyst Recommendations for Cairn Energy (LON:CNE)

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