Morgan Stanley Reiterates “Equal Weight” Rating for Cairn Energy (OTCMKTS:CRNCY)


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Cairn Energy (OTCMKTS:CRNCY)‘s stock had its “equal weight” rating reiterated by investment analysts at Morgan Stanley in a research note issued to investors on Tuesday, The Fly reports.

Several other equities research analysts have also recently commented on CRNCY. Canaccord Genuity cut Cairn Energy from a “buy” rating to a “hold” rating in a report on Wednesday, December 23rd. Peel Hunt cut Cairn Energy to a “hold” rating in a report on Thursday, December 17th. AlphaValue raised Cairn Energy to a “sell” rating in a research note on Thursday, December 24th. Zacks Investment Research raised Cairn Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, December 2nd. Finally, Berenberg Bank raised Cairn Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, December 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $5.75.

OTCMKTS:CRNCY opened at $5.41 on Tuesday. Cairn Energy has a one year low of $1.28 and a one year high of $5.81. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.36 and a current ratio of 1.39. The stock has a market cap of $1.59 billion, a PE ratio of 23.52 and a beta of 2.25. The stock has a 50 day moving average price of $4.93 and a 200 day moving average price of $3.92.

Cairn Energy Company Profile

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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