CAIRN ENERGY PL/ADR (OTCMKTS:CRNCY) was downgraded by Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Friday, The Fly reports.
Several other equities analysts have also weighed in on CRNCY. Zacks Investment Research lowered CAIRN ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research note on Friday, November 16th. Jefferies Financial Group raised CAIRN ENERGY PL/ADR from an “underperform” rating to a “hold” rating in a research note on Friday, December 14th. BMO Capital Markets raised CAIRN ENERGY PL/ADR from a “market perform” rating to an “outperform” rating in a research note on Friday, January 11th. Finally, Morgan Stanley raised CAIRN ENERGY PL/ADR from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, January 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. CAIRN ENERGY PL/ADR presently has a consensus rating of “Hold” and a consensus target price of $5.50.
OTCMKTS:CRNCY traded up $0.22 during mid-day trading on Friday, hitting $4.90. The company had a trading volume of 247 shares, compared to its average volume of 3,363. CAIRN ENERGY PL/ADR has a fifty-two week low of $3.52 and a fifty-two week high of $7.23. The company has a current ratio of 2.75, a quick ratio of 2.72 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 5.51 and a beta of 1.73.
Cairn Energy PLC operates as an oil and gas exploration and production company. It holds a portfolio of exploration, development, and production assets in the United Kingdom; Norway; Mexico; and the Atlantic Margin, including Senegal and the Republic of Ireland. The company was incorporated in 2002 and is headquartered in Edinburgh, the United Kingdom.
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