Barclays Reiterates “Overweight” Rating for Cairn Energy (OTCMKTS:CRNCY)


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Barclays reissued their overweight rating on shares of Cairn Energy (OTCMKTS:CRNCY) in a report issued on Monday morning, The Fly reports.

CRNCY has been the subject of several other research reports. Peel Hunt cut Cairn Energy to a hold rating in a report on Thursday, December 17th. Berenberg Bank upgraded Cairn Energy from a hold rating to a buy rating in a report on Wednesday, December 9th. Zacks Investment Research upgraded Cairn Energy from a sell rating to a hold rating in a report on Wednesday, December 2nd. Canaccord Genuity cut Cairn Energy from a buy rating to a hold rating in a report on Wednesday, December 23rd. Finally, AlphaValue upgraded Cairn Energy to a sell rating in a report on Thursday, December 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $5.75.

CRNCY opened at $5.41 on Monday. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 23.52 and a beta of 2.25. The business’s 50-day moving average price is $4.93 and its two-hundred day moving average price is $3.92. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 1.36. Cairn Energy has a 1 year low of $1.28 and a 1 year high of $5.81.

About Cairn Energy

Cairn Energy PLC operates as an independent oil and gas exploration, development, and production company. It holds a portfolio of exploration, development, and production assets in the United Kingdom, Israel, Mauritania, Senegal, Cote d'Ivoire, Mexico, and Suriname. The company was incorporated in 2002 and is headquartered in Edinburgh, the United Kingdom.

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Analyst Recommendations for Cairn Energy (OTCMKTS:CRNCY)

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