Zacks Investment Research upgraded shares of Cairn Energy (OTCMKTS:CRNCY) from a hold rating to a buy rating in a report published on Wednesday. The firm currently has $7.00 price objective on the energy company’s stock.
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 Cairn Energy from a buy rating to a hold rating in a research report on Wednesday, December 20th.
Cairn Energy (OTCMKTS CRNCY) remained flat at $$6.19 during midday trading on Wednesday. The company had a trading volume of 100 shares, compared to its average volume of 6,870. Cairn Energy has a 1-year low of $4.29 and a 1-year high of $6.19. 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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