Could Cairn Energy PLC See a Reversal After This Very Weak Session?

 Could Cairn Energy PLC See a Reversal After This Very Weak Session?

The stock of Cairn Energy PLC (LON:CNE) is a huge mover today! The stock decreased 1.37% or GBX 2.52 on November 29, hitting GBX 181.58. About 1.07 million shares traded hands or 8.34% up from the average. Cairn Energy PLC (LON:CNE) has declined 17.78% since April 29, 2016 and is downtrending. It has underperformed by 23.04% the S&P500.
The move comes after 5 months negative chart setup for the GBX 1.05B company. It was reported on Nov, 29 by Barchart.com. We have GBX 170.69 PT which if reached, will make LON:CNE worth GBX 63.00M less.

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 firm has “Buy” rating by Canaccord Genuity given on Friday, September 16. Barclays Capital maintained the stock with “Equal Weight” rating in Tuesday, February 9 report. The stock has “Overweight” rating given by JP Morgan on Tuesday, February 23. Barclays Capital maintained the stock with “Equal Weight” rating in Wednesday, March 16 report. BNP Paribas maintained it with “Outperform” rating and GBX 176 target price in Tuesday, February 23 report. JP Morgan maintained the shares of CNE in a report on Thursday, October 8 with “Overweight” rating. Goldman Sachs maintained the stock with “Neutral” rating in Tuesday, June 28 report. The stock of Cairn Energy PLC (LON:CNE) earned “Outperform” rating by BNP Paribas on Thursday, March 10. Liberum Capital maintained it with “Hold” rating and GBX 209 target price in Wednesday, June 29 report. The rating was maintained by JP Morgan on Friday, January 8 with “Overweight”.

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 1.05 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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