Cairn Energy (OTCMKTS:CRNCY) Cut to Hold at Berenberg Bank

Cairn Energy (OTCMKTS:CRNCY) was downgraded by equities researchers at Berenberg Bank from a “buy” rating to a “hold” rating in a note issued to investors on Monday, The Fly reports.

A number of other analysts have also issued reports on the stock. Morgan Stanley reissued an “equal weight” rating on shares of Cairn Energy in a research note on Tuesday, June 22nd. Jefferies Financial Group started coverage on shares of Cairn Energy in a research note on Friday, July 16th. They issued a “hold” rating and a $4.16 price objective for the company. Zacks Investment Research raised shares of Cairn Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, July 20th. Canaccord Genuity raised shares of Cairn Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, June 23rd. Finally, HSBC raised shares of Cairn Energy from a “hold” rating to a “buy” rating in a research report on Monday, May 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.96.

CRNCY stock opened at $5.03 on Monday. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -12.58 and a beta of 2.19. Cairn Energy has a twelve month low of $3.50 and a twelve month high of $6.87. The company has a quick ratio of 4.55, a current ratio of 4.64 and a debt-to-equity ratio of 0.17. The firm’s fifty day simple moving average is $4.66 and its two-hundred day simple moving average is $4.72.

Cairn Energy Company Profile

Cairn Energy Plc engages in the exploration, development, and production of oil and gas properties. It operates through the following segments: Senegal, UK (United Kingdom) & Norway and International. The Senegal segment focuses to have a government-approved exploitation plan. The UK & Norway segment includes exploration activities in the North Sea, Norwegian Sea, and Barents Sea as well as management of the group’s producing assets in the UK North Sea.

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