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Macquarie announced Cairn Energy PLC (LON:CNE), dropping its stock price target to 242.00GBX today

In a report released on 6/21/2017 Macquarie reduced the stock price target of Cairn Energy PLC (LON:CNE) from 270.00GBX to 242.00GBX reporting a possible upside of 0.40%.

Previously on Monday May 22, 2017, Macquarie reported on Cairn Energy PLC (LON:CNE) increased the target price from 246.00GBX to 270.00GBX. At the time, this indicated a possible upside of 0.20%.

Just yesterday Cairn Energy PLC (LON:CNE) traded -3.81% lower at 173.35GBX. Cairn Energy PLC’s 50-day moving average is 175.52GBX and its 200-day moving average is 190.46GBX. The last closing price is down -7.12% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has increased 0.04% over the same time period. 1,850,631 shares of CNE traded hands, up from an average trading volume of 1,479,930

Recent Performance Chart

Cairn Energy PLC (LON:CNE)

Cairn Energy PLC has 52 week low of 164.28GBX and a 52 week high of 250.60GBX with a PE ratio of 3.99 and has a market capitalization of 0 GBX.

In addition to Macquarie reporting its target price, a total of 22 firms have issued a report on the stock. The consensus target price is 3.06GBX with two brokerages rating the company a strong buy, five brokerages rating the company a buy, fourteen brokerages rating the company a hold, one brokerage rating the company a underperform, and lastly three brokerages rating the company a sell.

General Company Details For Cairn Energy PLC (LON:CNE)

Cairn Energy PLC (Cairn) is a United Kingdom-based independent oil and gas exploration and development company. The Company's portfolio is focused on approximately three geographical regions, such as North West Europe, the Atlantic Margin and the Mediterranean. Cairn has exploration and appraisal assets in the Atlantic Margin, North West Europe and the Mediterranean, and core development assets in the North Sea. The Company has interests in over two the United Kingdom North Sea developments, Catcher and Kraken, and a third development, Skarfjell. Cairn holds approximately 40% interest in over three contiguous blocks offshore Senegal. The Company's subsidiaries include Capricorn Oil Limited, Cairn UK Holdings Limited, Capricorn Spain Limited, Capricorn Malta Limited, Capricorn Greenland Exploration A/S, Capricorn Exploration and Development Company Limited, Capricorn Mauritania Limited, Capricorn Senegal Limited and Capricorn Ireland Limited.

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