Raymond James Financial Boosts Birchcliff Energy (TSE:BIR) Price Target to C$8.50

Birchcliff Energy (TSE:BIR) had its target price boosted by research analysts at Raymond James Financial from C$8.00 to C$8.50 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the oil and natural gas company’s stock. Raymond James Financial’s target price indicates a potential upside of 28.98% from the company’s previous close.

Separately, BMO Capital Markets lowered shares of Birchcliff Energy from an “outperform” rating to a “hold” rating and reduced their price objective for the stock from C$8.50 to C$7.00 in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Birchcliff Energy has an average rating of “Moderate Buy” and a consensus price target of C$8.57.

Birchcliff Energy Stock Performance

Shares of BIR stock opened at C$6.59 on Thursday. The company has a market capitalization of C$1.81 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 0.35 and a beta of -0.30. The company has a debt-to-equity ratio of 23.09, a quick ratio of 0.97 and a current ratio of 1.17. Birchcliff Energy has a 52-week low of C$5.69 and a 52-week high of C$8.19. The business’s fifty day moving average is C$6.71 and its 200 day moving average is C$6.99.

Birchcliff Energy (TSE:BIR) last posted its earnings results on Wednesday, May 13th. The oil and natural gas company reported C$0.25 earnings per share (EPS) for the quarter. Birchcliff Energy had a return on equity of 3.07% and a net margin of 9.59%.The company had revenue of C$217.76 million for the quarter. On average, equities research analysts anticipate that Birchcliff Energy will post 0.1118631 EPS for the current fiscal year.

Birchcliff Energy Company Profile

Birchcliff Energy Ltd is an intermediate oil and gas company that explores for, develops, and produces natural gas, light oil, and natural gas liquids. The company conducts its drilling program in resource plays located in the Peace River Arch region of Alberta. Birchcliff focuses on operating nearly all its high working production, which is surrounded by blocks of high working interest lands where it owns and/or controls the infrastructure. To get the full value out of its natural gas wells, several gas plants are completely owned and operated for gas processing purposes.