CAIRN ENERGY PL/ADR (OTCMKTS:CRNCY) Raised to Hold at Zacks Investment Research

CAIRN ENERGY PL/ADR (OTCMKTS:CRNCY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, reports.

According to Zacks, “Cairn Energy PLC is engaged in the discovery, exploration and development of oil and gas properties in South Asia. The Company has discovered and developed many major fields in India and Bangladesh. Cairn Energy PLC is headquartered in Edinburgh, the United Kingdom. “

Separately, Jefferies Financial Group downgraded shares of CAIRN ENERGY PL/ADR from a “hold” rating to an “underperform” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. CAIRN ENERGY PL/ADR currently has a consensus rating of “Hold” and an average price target of $5.50.

Shares of CRNCY traded down $0.29 during trading hours on Wednesday, reaching $4.70. 100 shares of the company traded hands, compared to its average volume of 5,557. The company’s fifty day moving average price is $4.03 and its two-hundred day moving average price is $4.34. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -1.36 and a beta of 1.50. The company has a quick ratio of 1.36, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. CAIRN ENERGY PL/ADR has a 12 month low of $3.52 and a 12 month high of $6.21.


Cairn Energy PLC operates as an oil and gas exploration, development, and production company. The company holds a portfolio of exploration, development, and production assets in the United Kingdom; Norway; and the Atlantic Margin, including Senegal, Mexico, Suriname, Côte d'Ivoire, Mauritania, and the Republic of Ireland.

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