Zacks Investment Research downgraded shares of Cairn Energy (OTCMKTS:CRNCY) from a buy rating to a hold rating in a research note published on Tuesday.
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 Group downgraded shares of Cairn Energy from a buy rating to a hold rating in a report on Wednesday, December 20th.
Shares of Cairn Energy (OTCMKTS:CRNCY) opened at $6.49 on Tuesday. Cairn Energy has a fifty-two week low of $4.29 and a fifty-two week high of $6.49. The company has a current ratio of 1.35, a quick ratio of 1.34 and a debt-to-equity ratio of 0.08.
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Cairn Energy Company Profile
Cairn Energy PLC operates as an oil and gas exploration, development, and production company. It primarily holds interests in Senegal, the United Kingdom, Norway, Malta, Morocco, and the Republic of Ireland. The company also holds interests in two licenses covering an area of 1,100 km located in the Sureste basin, Gulf of Mexico.
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