Peel Hunt Reaffirms “Buy” Rating for Cairn Energy (LON:CNE)

Peel Hunt restated their buy rating on shares of Cairn Energy (LON:CNE) in a report issued on Tuesday, ThisIsMoney.Co.Uk reports.

Other equities analysts also recently issued research reports about the company. Canaccord Genuity lowered their price target on Cairn Energy from GBX 235 ($3.07) to GBX 230 ($3.01) and set a speculative buy rating on the stock in a research report on Tuesday, April 9th. Barclays reiterated an overweight rating on shares of Cairn Energy in a research report on Tuesday, April 16th. Jefferies Financial Group reiterated a hold rating on shares of Cairn Energy in a research report on Tuesday, April 9th. Royal Bank of Canada lowered their price target on Cairn Energy from GBX 225 ($2.94) to GBX 220 ($2.87) and set a sector performer rating on the stock in a research report on Thursday, July 18th. Finally, Berenberg Bank restated a buy rating and issued a GBX 190 ($2.48) target price on shares of Cairn Energy in a research report on Tuesday, May 21st. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Cairn Energy currently has an average rating of Buy and an average price target of GBX 226.15 ($2.96).

Shares of CNE stock opened at GBX 159.40 ($2.08) on Tuesday. The stock has a market capitalization of $939.69 million and a P/E ratio of -0.81. The business’s 50 day simple moving average is GBX 164.58. The company has a quick ratio of 1.08, a current ratio of 1.40 and a debt-to-equity ratio of 19.21. Cairn Energy has a 12-month low of GBX 138 ($1.80) and a 12-month high of GBX 251.60 ($3.29).

About Cairn Energy

Cairn Energy PLC operates as an oil and gas exploration, development, and production company. The company holds a portfolio of exploration, development, and production assets in the United Kingdom; Norway; and the Atlantic Margin, including Senegal, Mexico, Suriname, Côte d'Ivoire, Mauritania, and the Republic of Ireland.

Featured Story: Key terms to understand channel trading

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.