Birchcliff Energy (TSE:BIR) Price Target Cut to C$13.00

Birchcliff Energy (TSE:BIRGet Rating) had its price objective decreased by investment analysts at ATB Capital from C$13.50 to C$13.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. ATB Capital’s price target suggests a potential upside of 41.00% from the stock’s previous close.

A number of other brokerages have also recently issued reports on BIR. Cormark raised their target price on shares of Birchcliff Energy from C$17.00 to C$18.00 in a report on Friday, October 14th. CIBC decreased their price target on shares of Birchcliff Energy from C$12.75 to C$10.50 in a research report on Tuesday. TD Securities upgraded shares of Birchcliff Energy from a “hold” rating to a “buy” rating and decreased their price target for the stock from C$12.50 to C$12.00 in a research report on Thursday, November 10th. Raymond James decreased their price target on shares of Birchcliff Energy from C$13.50 to C$12.00 and set an “outperform” rating on the stock in a research report on Monday, January 16th. Finally, BMO Capital Markets lowered their price objective on shares of Birchcliff Energy from C$14.00 to C$13.00 in a research report on Tuesday, December 13th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$13.00.

Birchcliff Energy Stock Performance

BIR opened at C$9.22 on Thursday. Birchcliff Energy has a 1-year low of C$5.42 and a 1-year high of C$12.48. The company has a debt-to-equity ratio of 8.79, a current ratio of 1.58 and a quick ratio of 0.97. The stock’s 50 day simple moving average is C$9.63 and its 200 day simple moving average is C$10.04. The stock has a market cap of C$2.45 billion and a P/E ratio of 3.69.

Birchcliff Energy (TSE:BIRGet Rating) last issued its quarterly earnings results on Wednesday, November 9th. The oil and natural gas company reported C$0.89 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.53 by C$0.36. The business had revenue of C$339.53 million for the quarter, compared to analysts’ expectations of C$374.90 million. As a group, equities analysts anticipate that Birchcliff Energy will post 1.8200001 EPS for the current fiscal year.

About Birchcliff Energy

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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 located approximately 95 km northwest of Grande Prairie, Alberta.

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