Royal Bank of Canada Lowers Cairn Energy (LON:CNE) Price Target to GBX 220

Cairn Energy (LON:CNE) had its target price cut by Royal Bank of Canada from GBX 225 ($2.94) to GBX 220 ($2.87) in a research report sent to investors on Thursday morning, ThisIsMoney.Co.Uk reports. They currently have a sector performer rating on the oil and gas development company’s stock.

CNE has been the subject of a number of other reports. Barclays set a €45.00 ($52.33) target price on Zalando and gave the company a buy rating in a research note on Tuesday, April 16th. Jefferies Financial Group reissued a hold rating on shares of COMPASS GRP PLC/S in a research note on Tuesday, April 9th. Canaccord Genuity raised Nuvista Energy to a buy rating in a research report on Tuesday, April 9th. HSBC assumed coverage on Tullow Oil in a research report on Tuesday, May 28th. They set a hold rating for the company. Finally, Peel Hunt reaffirmed a not rated rating on shares of Eco Atlantic Oil & Gas in a research report on Thursday, April 4th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average target price of GBX 226.15 ($2.96).

LON:CNE opened at GBX 158.20 ($2.07) on Thursday. Cairn Energy has a 1 year low of GBX 138 ($1.80) and a 1 year high of GBX 253.80 ($3.32). The company has a current ratio of 1.40, a quick ratio of 1.08 and a debt-to-equity ratio of 19.21. The firm has a market capitalization of $932.61 million and a PE ratio of -0.81. The firm has a 50-day simple moving average of GBX 162.61.

In other news, insider James Smith acquired 1,123 shares of Cairn Energy stock in a transaction dated Tuesday, May 7th. The stock was bought at an average cost of GBX 160 ($2.09) per share, with a total value of £1,796.80 ($2,347.84).

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.

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Analyst Recommendations for Cairn Energy (LON:CNE)

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