Birchcliff Energy (TSE:BIR) Price Target Raised to C$11.00 at Scotiabank

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

Several other equities analysts have also weighed in on the company. Cormark lifted their price target on Birchcliff Energy to C$9.00 in a research note on Thursday, August 12th. BMO Capital Markets lifted their price target on Birchcliff Energy to C$5.50 in a research note on Thursday, August 12th. National Bankshares lifted their price target on Birchcliff Energy from C$4.25 to C$6.50 in a research note on Thursday, June 17th. Raymond James lifted their price target on Birchcliff Energy to C$6.75 and gave the company an “outperform” rating in a research note on Thursday, August 12th. Finally, CIBC reiterated a “buy” rating and issued a C$6.50 price objective on shares of Birchcliff Energy in a report on Friday, October 8th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$6.13.

BIR stock traded up C$0.21 during midday trading on Thursday, reaching C$6.86. The stock had a trading volume of 910,823 shares, compared to its average volume of 1,666,895. The firm has a fifty day simple moving average of C$5.81 and a two-hundred day simple moving average of C$4.52. The stock has a market cap of C$1.83 billion and a PE ratio of 20.48. Birchcliff Energy has a 52-week low of C$1.72 and a 52-week high of C$7.12. The company has a debt-to-equity ratio of 45.73, a quick ratio of 0.36 and a current ratio of 0.41.

Birchcliff Energy (TSE:BIR) last released its quarterly earnings data on Wednesday, August 11th. The oil and natural gas company reported C$0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$0.13 by C$0.03. The company had revenue of C$193.64 million for the quarter, compared to analysts’ expectations of C$188.00 million. On average, sell-side analysts predict that Birchcliff Energy will post 0.96 EPS for the current fiscal year.

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

Birchcliff Energy Company Profile

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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