Peel Hunt restated their add rating on shares of Cairn Energy (LON:CNE) in a research note issued to investors on Friday morning.
A number of other analysts have also commented on the company. Barclays lifted their target price on Cairn Energy from GBX 280 ($3.73) to GBX 290 ($3.86) and gave the stock an overweight rating in a report on Wednesday, March 21st. Morgan Stanley upgraded Cairn Energy to an overweight rating and raised their price target for the stock from GBX 270 ($3.59) to GBX 300 ($3.99) in a research note on Monday, March 12th. UBS Group restated a buy rating and issued a GBX 260 ($3.46) price target on shares of Cairn Energy in a research note on Wednesday, April 4th. Deutsche Bank restated a hold rating on shares of Cairn Energy in a research note on Tuesday, February 20th. Finally, Credit Suisse Group restated an outperform rating and issued a GBX 260 ($3.46) price target on shares of Cairn Energy in a research note on Tuesday, February 27th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of GBX 267.59 ($3.56).
Cairn Energy opened at GBX 222.40 ($2.96) on Friday, Marketbeat.com reports. Cairn Energy has a 12 month low of GBX 164.20 ($2.19) and a 12 month high of GBX 237 ($3.16).
In related news, insider Simon Thomson bought 777 shares of the stock in a transaction that occurred on Friday, May 4th. The shares were bought at an average cost of GBX 232 ($3.09) per share, for a total transaction of £1,802.64 ($2,400.00). Also, insider James Smith sold 209,599 shares of Cairn Energy stock in a transaction on Tuesday, March 27th. The shares were sold at an average price of GBX 210 ($2.80), for a total value of £440,157.90 ($586,017.71).
About Cairn Energy
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.
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