Birchcliff Energy (TSE:BIR) Lowered to “Market Perform” Rating by Raymond James Financial

Birchcliff Energy (TSE:BIR) was downgraded by research analysts at Raymond James Financial from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, BayStreet reports. They currently have a C$8.00 price objective on the oil and natural gas company’s stock, down from their prior price objective of C$8.50. Raymond James Financial’s target price indicates a potential upside of 27.19% from the stock’s current price.

Separately, Scotiabank upgraded shares of Birchcliff Energy to a “hold” rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of C$8.58.

Birchcliff Energy Trading Down 3.8%

Birchcliff Energy stock traded down C$0.25 during midday trading on Wednesday, reaching C$6.29. 1,974,762 shares of the stock traded hands, compared to its average volume of 1,444,042. The firm has a market cap of C$1.73 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 0.35 and a beta of -0.52. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 24.38. The company has a 50-day simple moving average of C$6.39 and a two-hundred day simple moving average of C$6.55. Birchcliff Energy has a 12-month low of C$5.69 and a 12-month high of C$8.19.

Birchcliff Energy (TSE:BIR) last issued its quarterly earnings results on Wednesday, August 12th. The oil and natural gas company reported C$0.05 earnings per share (EPS) for the quarter. Birchcliff Energy had a net margin of 13.31% and a return on equity of 4.22%. The company had revenue of C$193.41 million for the quarter. Research analysts expect that Birchcliff Energy will post 0.1118631 earnings per share for the current fiscal year.

Birchcliff Energy Company Profile

Birchcliff is an intermediate oil and natural gas company based in Calgary, Alberta with operations focused on the exploration and development of the Montney Resource Play in Alberta. Birchcliff’s common shares are listed for trading on the Toronto Stock Exchange under the symbol ‘BIR’.