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

Birchcliff Energy (TSE:BIR) had its price target hoisted by Raymond James Financial from C$8.00 to C$8.50 in a note issued to investors on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the oil and natural gas company’s stock. Raymond James Financial’s price target would suggest a potential upside of 28.59% from the company’s previous close.

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

Birchcliff Energy Trading Up 4.6%

Shares of Birchcliff Energy stock traded up C$0.29 during trading hours on Thursday, hitting C$6.61. The company’s stock had a trading volume of 1,800,906 shares, compared to its average volume of 1,629,147. Birchcliff Energy has a 1-year low of C$5.69 and a 1-year high of C$8.19. The business has a fifty day moving average of C$6.72 and a 200 day moving average of C$6.99. The company has a market capitalization of C$1.82 billion, a PE ratio of 27.54, a P/E/G ratio of 0.35 and a beta of -0.30. The company has a quick ratio of 0.97, a current ratio of 1.74 and a debt-to-equity ratio of 27.56.

Birchcliff Energy (TSE:BIR) last released its quarterly earnings data 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 net margin of 9.27% and a return on equity of 2.90%. The company had revenue of C$217.76 million during the quarter. As a group, equities analysts forecast that Birchcliff Energy will post 0.1118631 EPS for the current 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.