Cairn Energy (CRNCY) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Cairn Energy (OTCMKTS:CRNCY) from a hold rating to a buy rating in a research note released on Friday, December 22nd. The firm currently has $6.25 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 downgraded shares of Cairn Energy from a buy rating to a hold rating in a research note on Wednesday, December 20th.

Shares of Cairn Energy (OTCMKTS CRNCY) opened at $6.49 on Friday. Cairn Energy has a 1 year low of $4.29 and a 1 year high of $6.49. The company has a quick ratio of 1.34, a current ratio of 1.35 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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