Cairn Energy (CNE) PT Lowered to GBX 268 at JPMorgan Chase & Co.

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Cairn Energy (LON:CNE) had its price target decreased by JPMorgan Chase & Co. from GBX 271 ($3.54) to GBX 268 ($3.50) in a report released on Thursday, ThisIsMoney.Co.Uk reports. JPMorgan Chase & Co. currently has an overweight rating on the oil and gas development company’s stock.

Several other brokerages have also weighed in on CNE. Peel Hunt reissued a buy rating on shares of Cairn Energy in a report on Monday, March 11th. Canaccord Genuity reduced their price target on shares of Cairn Energy from GBX 260 ($3.40) to GBX 230 ($3.01) and set a speculative buy rating on the stock in a research report on Wednesday, March 13th. Barclays reduced their price target on shares of Cairn Energy from GBX 280 ($3.66) to GBX 245 ($3.20) and set an overweight rating on the stock in a research report on Thursday, March 14th. Jefferies Financial Group restated a hold rating on shares of Cairn Energy in a research report on Tuesday, January 15th. Finally, Royal Bank of Canada downgraded shares of Cairn Energy to a sector performer rating and reduced their price target for the stock from GBX 380 ($4.97) to GBX 225 ($2.94) in a research report on Friday, March 15th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of GBX 232.55 ($3.04).

CNE stock traded up GBX 2.80 ($0.04) during mid-day trading on Thursday, hitting GBX 163.70 ($2.14). 1,490,080 shares of the company were exchanged, compared to its average volume of 1,590,000. The firm has a market cap of $950.40 million and a P/E ratio of -0.84. The company has a debt-to-equity ratio of 19.21, a current ratio of 1.40 and a quick ratio of 1.08. Cairn Energy has a twelve month low of GBX 138 ($1.80) and a twelve month high of GBX 270.40 ($3.53).

In other Cairn Energy news, insider James Smith sold 77,726 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of GBX 160 ($2.09), for a total transaction of £124,361.60 ($162,500.46).

Cairn Energy Company Profile

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.

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Analyst Recommendations for Cairn Energy (LON:CNE)

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