Zacks Investment Research Downgrades Cairn Energy (CRNCY) to Hold

Cairn Energy (OTCMKTS:CRNCY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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 lowered shares of Cairn Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th.

Cairn Energy (CRNCY) traded down $0.01 during trading hours on Wednesday, hitting $5.80. 610 shares of the stock were exchanged, compared to its average volume of 6,786. Cairn Energy has a 1 year low of $4.29 and a 1 year high of $6.15. 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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