Canaccord Genuity Group Increases Birchcliff Energy (TSE:BIR) Price Target to C$5.50

Birchcliff Energy (TSE:BIR) had its target price raised by Canaccord Genuity Group from C$5.25 to C$5.50 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage currently has a “hold” rating on the oil and natural gas company’s stock. Canaccord Genuity Group’s price target points to a potential upside of 0.92% from the company’s current price.

A number of other research firms have also recently commented on BIR. National Bankshares cut shares of Birchcliff Energy from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from C$9.25 to C$6.50 in a research note on Wednesday, January 10th. ATB Capital cut their target price on shares of Birchcliff Energy from C$8.00 to C$7.50 in a research note on Thursday, February 15th. Royal Bank of Canada cut their target price on shares of Birchcliff Energy from C$8.00 to C$7.00 and set an “outperform” rating for the company in a research note on Thursday, January 18th. Raymond James cut shares of Birchcliff Energy from an “outperform” rating to a “market perform” rating and cut their target price for the stock from C$11.50 to C$9.00 in a research note on Friday, January 19th. Finally, BMO Capital Markets upped their price objective on shares of Birchcliff Energy from C$5.25 to C$5.50 in a research note on Thursday, March 28th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$6.36.

Birchcliff Energy Trading Down 2.0 %

Shares of Birchcliff Energy stock opened at C$5.45 on Wednesday. The firm has a 50-day simple moving average of C$5.37 and a two-hundred day simple moving average of C$6.10. The company has a market cap of C$1.46 billion, a P/E ratio of 136.25, a price-to-earnings-growth ratio of 0.35 and a beta of 2.04. Birchcliff Energy has a fifty-two week low of C$4.61 and a fifty-two week high of C$8.68. The company has a debt-to-equity ratio of 17.29, a quick ratio of 0.97 and a current ratio of 0.91.

Birchcliff Energy (TSE:BIR) last issued its quarterly earnings data on Wednesday, February 14th. The oil and natural gas company reported C($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.07 by C($0.09). The firm had revenue of C$183.30 million during the quarter. Birchcliff Energy had a return on equity of 0.42% and a net margin of 1.40%. As a group, equities analysts predict that Birchcliff Energy will post 0.0898464 earnings per share for the current fiscal year.

Insider Activity

In other news, Senior Officer Christopher Andrew Carlsen sold 200,000 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of C$5.00, for a total value of C$1,000,000.00. Corporate insiders own 1.50% of the company’s stock.

About Birchcliff Energy

Birchcliff Energy Ltd., an intermediate oil and natural gas company, explores for, develops, and produces natural gas, light oil, condensate, and other natural gas liquids in Western Canada. The company holds interests in the areas of Montney/Doig Resource Play, including the Pouce Coupe and Gordondale properties in Alberta.