Birchcliff Energy (TSE:BIR) Given New C$11.00 Price Target at Scotiabank

Birchcliff Energy (TSE:BIR) had its target price upped by research analysts at Scotiabank from C$8.00 to C$11.00 in a research report issued on Thursday, BayStreet.CA reports. Scotiabank’s price objective would suggest a potential upside of 60.35% from the stock’s current price.

BIR has been the subject of a number of other reports. Cormark increased their target price on shares of Birchcliff Energy to C$9.00 in a report on Thursday, August 12th. National Bankshares increased their target price on shares of Birchcliff Energy from C$4.25 to C$6.50 in a report on Thursday, June 17th. CIBC reaffirmed a “buy” rating and issued a C$6.50 target price on shares of Birchcliff Energy in a report on Friday, October 8th. National Bank Financial increased their target price on shares of Birchcliff Energy to C$6.50 and gave the company an “outperform” rating in a report on Thursday, June 17th. Finally, Royal Bank of Canada increased their target price on shares of Birchcliff Energy to C$6.00 and gave the company an “outperform” rating in a report on Thursday, August 12th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Birchcliff Energy presently has an average rating of “Buy” and a consensus target price of C$6.13.

TSE BIR traded up C$0.21 during trading hours on Thursday, hitting C$6.86. 910,823 shares of the stock were exchanged, compared to its average volume of 1,666,895. The company has a market cap of C$1.83 billion and a price-to-earnings ratio of 20.48. Birchcliff Energy has a 12-month low of C$1.72 and a 12-month high of C$7.12. The stock has a 50-day moving average of C$5.81 and a 200 day moving average of C$4.52. The company has a quick ratio of 0.36, a current ratio of 0.41 and a debt-to-equity ratio of 45.73.

Birchcliff Energy (TSE:BIR) last posted its quarterly earnings results on Wednesday, August 11th. The oil and natural gas company reported C$0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.13 by C$0.03. The firm had revenue of C$193.64 million for the quarter, compared to analysts’ expectations of C$188.00 million. On average, equities research analysts expect that Birchcliff Energy will post 0.96 earnings per share for the current year.

In other news, Senior Officer Myles Bosman sold 200,000 shares of the firm’s stock in a transaction on Wednesday, September 15th. The shares were sold at an average price of C$6.53, for a total value of C$1,306,000.00.

About Birchcliff Energy

Birchcliff Energy Ltd., an intermediate oil and natural gas company, acquires, explores for, develops, and produces natural gas, light oil, condensate, and natural gas liquids in Western Canada. The company holds interests in the Montney/Doig resource play, as well as other assets located in the Peace River Arch area of Alberta.

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Analyst Recommendations for Birchcliff Energy (TSE:BIR)

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