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

Birchcliff Energy (TSE:BIR – Get Free Report) had its target price raised by Raymond James Financial from C$8.00 to C$8.50 in a research note issued to investors 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 price objective suggests a potential upside of 32.61% from the stock’s previous close.

Separately, Scotiabank raised Birchcliff Energy to a “hold” rating in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$8.67.

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Birchcliff Energy Stock Performance

TSE:BIR traded up C$0.03 during trading hours on Thursday, reaching C$6.41. The company had a trading volume of 921,196 shares, compared to its average volume of 1,476,536. The firm has a market cap of C$1.76 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 0.35 and a beta of -0.57. The company has a current ratio of 1.17, a quick ratio of 0.97 and a debt-to-equity ratio of 23.09. The firm’s 50 day moving average price is C$6.38 and its 200-day moving average price is C$6.65. Birchcliff Energy has a 52 week low of C$5.69 and a 52 week high of C$8.19.

Birchcliff Energy (TSE:BIR – Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The oil and natural gas company reported C$0.05 earnings per share for the quarter. The firm had revenue of C$193.41 million for the quarter. Birchcliff Energy had a return on equity of 3.07% and a net margin of 9.59%. On average, analysts forecast that Birchcliff Energy will post 0.1118631 EPS for the current year.

Birchcliff Energy Company Profile

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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.

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