Cairn Energy’s (CRNCY) “Overweight” Rating Reiterated at Barclays

Barclays reissued their overweight rating on shares of Cairn Energy (OTCMKTS:CRNCY) in a research note published on Monday morning, The Fly reports.

A number of other research analysts have also issued reports on the company. Canaccord Genuity lowered Cairn Energy from a buy rating to a hold rating in a research report on Wednesday, December 23rd. Peel Hunt lowered Cairn Energy to a hold rating in a research report on Thursday, December 17th. Berenberg Bank raised Cairn Energy from a hold rating to a buy rating in a research note on Wednesday, December 9th. AlphaValue raised Cairn Energy to a sell rating in a research note on Thursday, December 24th. Finally, Zacks Investment Research raised Cairn Energy from a sell rating to a hold rating in a research note on Wednesday, December 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $5.75.

OTCMKTS:CRNCY opened at $5.41 on Monday. Cairn Energy has a 12-month low of $1.28 and a 12-month high of $5.81. The firm has a market capitalization of $1.59 billion, a P/E ratio of 23.52 and a beta of 2.25. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 1.36. The business has a 50 day simple moving average of $4.93 and a 200 day simple moving average of $3.92.

About Cairn Energy

Cairn Energy PLC operates as an independent oil and gas exploration, development, and production company. It holds a portfolio of exploration, development, and production assets in the United Kingdom, Israel, Mauritania, Senegal, Cote d'Ivoire, Mexico, and Suriname. The company was incorporated in 2002 and is headquartered in Edinburgh, the United Kingdom.

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