Cairn Energy (OTCMKTS:CRNCY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

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 Cairn Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th.

Shares of Cairn Energy (OTCMKTS CRNCY) traded down $0.03 during trading hours on Tuesday, hitting $6.46. The stock had a trading volume of 1,405 shares, compared to its average volume of 7,727. The company has a current ratio of 1.35, a quick ratio of 1.34 and a debt-to-equity ratio of 0.08. Cairn Energy has a twelve month low of $4.29 and a twelve month high of $6.49.

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About Cairn Energy

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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