The stock of Cairn Energy PLC (LON:CNE) is a huge mover today! The stock decreased 0.91% or GBX 1.8 on November 22, hitting GBX 196.6. About 1.33 million shares traded hands or 18.75% up from the average. Cairn Energy PLC (LON:CNE) has declined 6.94% since April 22, 2016 and is downtrending. It has underperformed by 11.50% the S&P500.
The move comes after 6 months positive chart setup for the GBX 1.14 billion company. It was reported on Nov, 22 by Barchart.com. We have GBX 206.43 PT which if reached, will make LON:CNE worth GBX 57.00M more.
Cairn Energy PLC (LON:CNE) Ratings Coverage
Out of 21 analysts covering Cairn Energy PLC (LON:CNE), 10 rate it a “Buy”, 0 “Sell”, while 11 “Hold”. This means 48% are positive. Cairn Energy PLC has been the topic of 134 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock of Cairn Energy PLC (LON:CNE) has “Underweight” rating given on Tuesday, November 10 by Barclays Capital. The firm has “Underperform” rating given on Thursday, August 20 by Credit Suisse. The firm earned “Overweight” rating on Wednesday, January 20 by JP Morgan. The stock has “Hold” rating given by Numis Securities on Monday, March 14. RBC Capital Markets maintained the stock with “Outperform” rating in Friday, April 1 report. The rating was maintained by RBC Capital Markets on Tuesday, March 15 with “Outperform”. The rating was maintained by BNP Paribas with “Outperform” on Tuesday, September 15. The stock of Cairn Energy PLC (LON:CNE) has “Speculative Buy” rating given on Thursday, November 5 by Canaccord Genuity. RBC Capital Markets maintained the shares of CNE in a report on Tuesday, March 1 with “Outperform” rating. The firm has “Neutral” rating given on Tuesday, August 18 by Davy Research.
More recent Cairn Energy PLC (LON:CNE) news were published by: Economictimes.Indiatimes.com which released: “India gets 6 more weeks to respond to Cairn Energy arbitration” on November 20, 2016. Also Economictimes.Indiatimes.com published the news titled: “Cairn Energy plc, LIC hold key to Cairn-Vedanta merger” on June 15, 2015. Economictimes.Indiatimes.com‘s news article titled: “Income Tax department slaps Rs 29000 crore tax demand notice on Cairn Energy” with publication date: March 15, 2016 was also an interesting one.
Cairn Energy PLC is a United Kingdom independent gas and oil exploration and development company. The company has a market cap of 1.14 billion GBP. The Company’s portfolio is focused on approximately three geographical regions, such as North West Europe, the Atlantic Margin and the Mediterranean. It currently has negative earnings. Cairn has exploration and appraisal assets in the Atlantic Margin, North West Europe and the Mediterranean, and core development assets in the North Sea.
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