Cairn Energy’s (CNE) “Add” Rating Reaffirmed at Peel Hunt

Cairn Energy (LON:CNE)‘s stock had its “add” rating restated by stock analysts at Peel Hunt in a research note issued to investors on Monday.

CNE has been the subject of a number of other research reports. Barclays upped their target price on Cairn Energy from GBX 280 ($3.80) to GBX 290 ($3.93) and gave the stock an “overweight” rating in a research report on Wednesday, March 21st. Credit Suisse Group reaffirmed an “outperform” rating and set a GBX 260 ($3.53) target price on shares of Cairn Energy in a research report on Tuesday, February 27th. JPMorgan Chase upped their target price on Cairn Energy from GBX 228 ($3.09) to GBX 241 ($3.27) and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Deutsche Bank reaffirmed a “hold” rating on shares of Cairn Energy in a research report on Tuesday, February 20th. Finally, UBS reaffirmed a “buy” rating and set a GBX 260 ($3.53) target price on shares of Cairn Energy in a research report on Wednesday, April 4th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Cairn Energy has a consensus rating of “Buy” and an average price target of GBX 261.16 ($3.54).

Shares of Cairn Energy opened at GBX 264.20 ($3.58) on Monday, MarketBeat.com reports. Cairn Energy has a 12-month low of GBX 164.20 ($2.23) and a 12-month high of GBX 237 ($3.21).

In other Cairn Energy news, insider Simon Thomson acquired 777 shares of Cairn Energy stock in a transaction dated Friday, May 4th. The stock was bought at an average cost of GBX 232 ($3.15) per share, with a total value of £1,802.64 ($2,445.25). Also, insider James Smith sold 209,599 shares of the stock in a transaction that occurred on Tuesday, March 27th. The shares were sold at an average price of GBX 210 ($2.85), for a total value of £440,157.90 ($597,067.15).

Cairn Energy Company Profile

Cairn Energy PLC operates as an oil and gas exploration, development, and production company. It primarily holds interests in Senegal, the United Kingdom, Norway, Malta, Morocco, and the Republic of Ireland. The company also holds interests in two licenses covering an area of 1,100 km located in the Sureste basin, Gulf of Mexico.

Analyst Recommendations for Cairn Energy (LON:CNE)

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