Hello, Share Scoopers. I still believe that the bigger oil companies are undervalued, given the price of Brent Crude. Yes, recently the oil price has fallen and attempts to revitalise have been thwarted by the general malaise. But that could be a buying opportunity for some oilers...
A brief look at Cairn Energy (CNE) would leave many wondering how on earth the company can be worth its current market cap of more than £1.15 billion. Especially when you consider that although it is an oil producer, in H1 2018 it only averaged 14,400boepd, and there are many others on the market producing those sort of quantities with much lower market valuations. What you would be missing though is the fact that this company has huge future growth potential, both from increased production from its existing Kracken and Catcher operations in the North Sea, but far more importantly from the future development of the SNE field in Senegal and Nova in Norway.
Cairn Energy (CNE) is one of a number of oil producers which look to be unloved by the market currently, but I would expect that to change in the future. In recent years the company has had impressive amounts of reserves on its book, but has now moved to the stage where it is producing from several of those fields, and with more to come in the near future.
Hello Share Crunchers. I hold stock in an awful lot of oil producers, perhaps too many. But one company which has never lit my fire is Cairn Energy (CNE). Maybe I should dip in, though.
Hello Share Swappers. The price of crude oil bested $50 dollars a barrel a few months ago. Consequently big oil producers like Royal Dutch Shell (RDSA) started a long-awaited rally. Then the oil price dipped back to around $40 dollars. So it looks as though oil prices are not recovering at all. Except that the last time I looked the oil price was over $44 dollars a barrel, so it’s on the up again.
Cairn Energy’s (CNE) latest set of results were far from market-pleasing and resulted in a 14 per cent drop in its share price yesterday. It now sits at its lowest price since the market crashed in 2008, albeit with far more shares in existence. The current price of 168p equates to a market cap of close to £1 billion, but is there value here?
Cairn Energy (CNE) released its interim management statement today and the stock reacted positively. At 11am the stock was trading at 285p, up 3.4% on the day.
FTSE 250 listed oil and gas company Cairn Energy ("LSE: CNE":http://www.shareprophets.com/epic/cne) was lifted by news on a discovery made at Skarfjell (Cairn: 20%) in the Norwegian North Sea.
I reviewed FTSE 250 oil and gas explorer and developer Cairn Energy (CNE) on 19th March when it released calendar 2012 results. The shares have subsequently drifted back slightly, to my surprise as I see real value here, but there has been some interesting recent boardroom interest in the shares which I take to mean that I am not alone in my analysis. Those who really should know agree.
FTSE 250 Listed Cairn Energy (CNE) served up calendar 2012 results today and as oil and gas companies go this has to be the easiest stock going to analyse. What I refer to is the clear tangible net asset backing. At 279.4p the market capitalisation is £1.693 billion but have a look at the asset backing.
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