CIBC Raises Birchcliff Energy (BIR) Price Target to C$6.00

Birchcliff Energy (TSE:BIR) had its price target upped by investment analysts at CIBC from C$5.00 to C$6.00 in a research report issued to clients and investors on Tuesday. CIBC’s price target suggests a potential upside of 70.45% from the stock’s current price.

BIR has been the subject of several other research reports. BMO Capital Markets cut Birchcliff Energy from an “outperform” rating to a “market perform” rating and cut their price target for the company from C$7.50 to C$4.00 in a report on Thursday, January 11th. Raymond James Financial cut their price target on Birchcliff Energy from C$6.25 to C$5.25 in a report on Monday, February 5th. National Bank Financial cut their price target on Birchcliff Energy from C$8.00 to C$7.00 and set an “outperform” rating for the company in a report on Tuesday, January 9th. Finally, Royal Bank of Canada cut their price target on Birchcliff Energy from C$7.00 to C$5.00 and set an “outperform” rating for the company in a report on Thursday, February 15th.

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Birchcliff Energy (TSE BIR) traded up C$0.23 during midday trading on Tuesday, hitting C$3.52. The stock had a trading volume of 3,910,796 shares, compared to its average volume of 2,302,387. The stock has a market capitalization of $837.26, a P/E ratio of -14.08 and a beta of 0.26. Birchcliff Energy has a 1-year low of C$2.90 and a 1-year high of C$8.17.

Birchcliff Energy (TSE:BIR) last released its earnings results on Wednesday, February 14th. The oil and natural gas company reported C$0.09 earnings per share for the quarter, missing the consensus estimate of C$0.15 by C($0.06). Birchcliff Energy had a negative net margin of 112.10% and a negative return on equity of 28.79%. The firm had revenue of C$166.15 million during the quarter, compared to analysts’ expectations of C$175.40 million.

In related news, insider David Humphreys purchased 16,000 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was purchased at an average price of C$3.04 per share, with a total value of C$48,640.00. In the last ninety days, insiders purchased 26,550 shares of company stock valued at $121,714.

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About Birchcliff Energy

Birchcliff Energy Ltd. is an intermediate oil and natural gas company. The Company is engaged in the exploration for and the development, production and acquisition of petroleum and natural gas reserves in Western Canada. Its operations are concentrated within core area, the Peace River Arch, which is centered over 90 kilometers northwest of Grande Prairie, Alberta, adjacent to the Alberta/British Columbia border.

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