Zacks Investment Research cut shares of CAIRN ENERGY PL/ADR (OTCMKTS:CRNCY) from a hold rating to a sell rating in a research note released on Tuesday morning.

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. “

A number of other analysts have also recently weighed in on CRNCY. Berenberg Bank cut CAIRN ENERGY PL/ADR from a hold rating to a sell rating in a research report on Tuesday, August 14th. Investec cut CAIRN ENERGY PL/ADR from a buy rating to a hold rating in a research report on Tuesday, August 14th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The stock currently has an average rating of Hold and an average price target of $8.00.

Shares of OTCMKTS:CRNCY opened at $5.75 on Tuesday. CAIRN ENERGY PL/ADR has a fifty-two week low of $4.80 and a fifty-two week high of $7.23. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 6.46 and a beta of 1.32. The company has a quick ratio of 2.72, a current ratio of 2.75 and a debt-to-equity ratio of 0.10.

CAIRN ENERGY PL/ADR Company Profile

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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