CAIRN ENERGY PL/ADR (OTCMKTS:CRNCY) Downgraded by Zacks Investment Research

CAIRN ENERGY PL/ADR (OTCMKTS:CRNCY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, Zacks.com 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. “

Other analysts also recently issued reports about the stock. Macquarie began coverage on shares of CAIRN ENERGY PL/ADR in a report on Wednesday, May 1st. They issued an “outperform” rating on the stock. Royal Bank of Canada downgraded shares of CAIRN ENERGY PL/ADR from an “outperform” rating to a “sector perform” rating in a report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $5.50.

Shares of CAIRN ENERGY PL/ADR stock traded up $0.02 during trading hours on Wednesday, reaching $4.43. The company’s stock had a trading volume of 309 shares, compared to its average volume of 4,652. The business’s 50 day simple moving average is $4.17. CAIRN ENERGY PL/ADR has a one year low of $3.52 and a one year high of $7.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.36 and a current ratio of 1.40. The stock has a market cap of $1.27 billion, a PE ratio of -1.28 and a beta of 1.59.

About CAIRN ENERGY PL/ADR

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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