Barclays Cuts Cairn Energy (CNE) Price Target to GBX 245

Cairn Energy (LON:CNE) had its target price cut by Barclays from GBX 280 ($3.66) to GBX 245 ($3.20) in a report released on Thursday morning. They currently have an overweight rating on the oil and gas development company’s stock.

A number of other equities research analysts have also weighed in on the stock. Peel Hunt restated a buy rating on shares of Cairn Energy in a report on Monday, January 28th. BNP Paribas lowered their price target on shares of Cairn Energy from GBX 290 ($3.79) to GBX 190 ($2.48) and set a neutral rating for the company in a report on Monday, December 10th. JPMorgan Chase & Co. lowered their price target on shares of Cairn Energy from GBX 306 ($4.00) to GBX 271 ($3.54) and set an overweight rating for the company in a report on Tuesday, November 20th. Morgan Stanley lowered shares of Cairn Energy to an equal weight rating and lowered their price target for the company from GBX 350 ($4.57) to GBX 230 ($3.01) in a report on Tuesday, January 15th. Finally, Jefferies Financial Group reiterated a hold rating on shares of Cairn Energy in a report on Tuesday, January 15th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Cairn Energy currently has a consensus rating of Buy and an average price target of GBX 232.78 ($3.04).

Shares of CNE opened at GBX 171.50 ($2.24) on Thursday. The company has a market capitalization of $993.39 million and a PE ratio of -3.22. The company has a debt-to-equity ratio of 14.95, a current ratio of 2.75 and a quick ratio of 1.29. Cairn Energy has a fifty-two week low of GBX 138 ($1.80) and a fifty-two week high of GBX 270.40 ($3.53).

Cairn Energy Company Profile

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.

See Also: Google Finance

Analyst Recommendations for Cairn Energy (LON:CNE)

Receive News & Ratings for Cairn Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cairn Energy and related companies with MarketBeat.com's FREE daily email newsletter.