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

CAIRN ENERGY PL/ADR (OTCMKTS:CRNCY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, 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 investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. CAIRN ENERGY PL/ADR has an average rating of “Hold” and a consensus target price of $5.25.

Shares of CAIRN ENERGY PL/ADR stock traded down $0.19 during trading hours on Tuesday, reaching $4.48. 877 shares of the company’s stock were exchanged, compared to its average volume of 5,636. The company has a 50 day moving average of $4.82 and a two-hundred day moving average of $4.37. CAIRN ENERGY PL/ADR has a fifty-two week low of $3.52 and a fifty-two week high of $5.83. The stock has a market cap of $1.32 billion, a P/E ratio of -1.30 and a beta of 1.56.


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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