CAIRN ENERGY PL/ADR (OTCMKTS:CRNCY) Lowered to Hold at HSBC

CAIRN ENERGY PL/ADR (OTCMKTS:CRNCY) was downgraded by analysts at HSBC from a “buy” rating to a “hold” rating in a report released on Wednesday, The Fly reports.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada raised CAIRN ENERGY PL/ADR from a “sector perform” rating to an “outperform” rating in a research note on Monday, March 16th. Jefferies Financial Group assumed coverage on CAIRN ENERGY PL/ADR in a research note on Tuesday, April 28th. They issued an “underperform” rating on the stock. Berenberg Bank lowered CAIRN ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research note on Wednesday, April 29th. Zacks Investment Research lowered CAIRN ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research note on Friday, June 5th. Finally, Morgan Stanley lowered CAIRN ENERGY PL/ADR from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. CAIRN ENERGY PL/ADR currently has an average rating of “Hold” and an average target price of $3.75.

CRNCY opened at $3.03 on Wednesday. The stock has a market cap of $893.17 million, a P/E ratio of 13.17 and a beta of 2.17. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.43 and a quick ratio of 1.36. The stock’s 50 day simple moving average is $3.01 and its 200 day simple moving average is $3.54. CAIRN ENERGY PL/ADR has a 1-year low of $1.28 and a 1-year high of $5.67.

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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Analyst Recommendations for CAIRN ENERGY PL/ADR (OTCMKTS:CRNCY)

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