Birchcliff Energy (BIR) Downgraded to “Market Perform” at BMO Capital Markets
Birchcliff Energy (TSE:BIR) was downgraded by equities research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report released on Thursday. They presently have a C$4.00 price target on the oil and natural gas company’s stock, down from their previous price target of C$7.50. BMO Capital Markets’ target price would indicate a potential upside of 8.99% from the stock’s current price.
A number of other analysts also recently issued reports on the company. Raymond James Financial cut their target price on Birchcliff Energy from C$10.00 to C$9.50 and set an “outperform” rating for the company in a research note on Thursday, November 9th. Laurentian Bank of Canada raised their price objective on Birchcliff Energy from C$9.00 to C$10.00 in a research report on Friday, October 6th. National Bank Financial cut their price objective on Birchcliff Energy from C$8.00 to C$7.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Laurentian cut their price objective on Birchcliff Energy from C$10.00 to C$9.00 in a research report on Friday, October 6th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Birchcliff Energy presently has a consensus rating of “Buy” and a consensus price target of C$9.93.
Shares of Birchcliff Energy (BIR) traded down C$0.02 on Thursday, hitting C$3.67. The company’s stock had a trading volume of 4,060,000 shares, compared to its average volume of 1,940,000. Birchcliff Energy has a twelve month low of C$3.61 and a twelve month high of C$8.91. The firm has a market cap of $981.94, a P/E ratio of -14.68 and a beta of 0.39.
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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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