Canaccord Genuity Group Increases Birchcliff Energy (TSE:BIR) Price Target to C$5.50

Birchcliff Energy (TSE:BIR) had its price target raised by Canaccord Genuity Group from C$5.25 to C$5.50 in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm currently has a “hold” rating on the oil and natural gas company’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 0.92% from the company’s previous close.

BIR has been the subject of a number of other reports. National Bankshares downgraded shares of Birchcliff Energy from an “outperform” rating to a “sector perform” rating and cut their price target for the company from C$9.25 to C$6.50 in a report on Wednesday, January 10th. TD Securities reduced their price objective on shares of Birchcliff Energy from C$6.00 to C$5.50 and set a “hold” rating for the company in a research note on Thursday, January 18th. ATB Capital reduced their price objective on shares of Birchcliff Energy from C$8.00 to C$7.50 in a research note on Thursday, February 15th. Stifel Nicolaus reduced their price objective on shares of Birchcliff Energy from C$6.50 to C$5.00 and set a “hold” rating for the company in a research note on Thursday, January 18th. Finally, Raymond James lowered shares of Birchcliff Energy from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from C$11.50 to C$9.00 in a research note on Friday, January 19th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$6.36.

Birchcliff Energy Price Performance

Shares of TSE BIR opened at C$5.45 on Wednesday. Birchcliff Energy has a twelve month low of C$4.61 and a twelve month high of C$8.68. The company has a current ratio of 0.91, a quick ratio of 0.97 and a debt-to-equity ratio of 17.29. The company has a market capitalization of C$1.46 billion, a price-to-earnings ratio of 136.25, a PEG ratio of 0.35 and a beta of 2.04. The firm has a 50-day moving average of C$5.37 and a two-hundred day moving average of C$6.10.

Birchcliff Energy (TSE:BIR) last issued its quarterly earnings results on Wednesday, February 14th. The oil and natural gas company reported C($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.07 by C($0.09). Birchcliff Energy had a net margin of 1.40% and a return on equity of 0.42%. The business had revenue of C$183.30 million during the quarter. As a group, analysts expect that Birchcliff Energy will post 0.0898464 earnings per share for the current fiscal year.

Insider Transactions at Birchcliff Energy

In other news, Senior Officer Christopher Andrew Carlsen sold 200,000 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of C$5.00, for a total value of C$1,000,000.00. 1.50% of the stock is owned by insiders.

About Birchcliff Energy

Birchcliff Energy Ltd., an intermediate oil and natural gas company, explores for, develops, and produces natural gas, light oil, condensate, and other natural gas liquids in Western Canada. The company holds interests in the areas of Montney/Doig Resource Play, including the Pouce Coupe and Gordondale properties in Alberta.