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

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

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

Birchcliff Energy Trading Up 4.6%

Shares of BIR traded up C$0.29 on Thursday, hitting C$6.61. 1,800,906 shares of the stock traded hands, compared to its average volume of 1,629,147. The company has a quick ratio of 0.97, a current ratio of 1.74 and a debt-to-equity ratio of 27.56. The firm has a market capitalization of C$1.82 billion, a P/E ratio of 27.54, a P/E/G ratio of 0.35 and a beta of -0.30. The stock’s 50 day moving average is C$6.72 and its two-hundred day moving average is C$6.99. Birchcliff Energy has a 1 year low of C$5.69 and a 1 year high of C$8.19.

Birchcliff Energy (TSE:BIR) last announced 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. The business had revenue of C$217.76 million for the quarter. Birchcliff Energy had a net margin of 9.27% and a return on equity of 2.90%. As a group, sell-side analysts predict that Birchcliff Energy will post 0.1118631 earnings per share for the current year.

About Birchcliff Energy

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.