Scotiabank Boosts Birchcliff Energy (OTCMKTS:BIREF) Price Target to C$11.00

Birchcliff Energy (OTCMKTS:BIREF) had its target price hoisted by research analysts at Scotiabank from C$8.00 to C$11.00 in a research report issued on Thursday, The Fly reports. The firm currently has an “outperform” rating on the stock.

Other equities analysts also recently issued reports about the company. BMO Capital Markets upped their target price on Birchcliff Energy from C$5.00 to C$5.50 and gave the company an “outperform” rating in a research report on Thursday, August 12th. Canaccord Genuity upped their target price on Birchcliff Energy from C$6.50 to C$8.00 and gave the company a “buy” rating in a research report on Wednesday, September 15th. Raymond James increased their price target on Birchcliff Energy from C$6.50 to C$6.75 and gave the stock an “outperform” rating in a research report on Thursday, August 12th. National Bank Financial increased their price target on Birchcliff Energy from C$6.25 to C$10.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 29th. Finally, Royal Bank of Canada increased their price target on Birchcliff Energy from C$5.00 to C$6.00 and gave the stock an “outperform” rating in a research report on Thursday, August 12th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $7.50.

Shares of OTCMKTS BIREF traded down $0.04 during mid-day trading on Thursday, hitting $5.36. The stock had a trading volume of 52,838 shares, compared to its average volume of 110,789. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.41 and a current ratio of 0.41. The company has a 50 day moving average of $4.62 and a two-hundred day moving average of $3.63. Birchcliff Energy has a twelve month low of $1.31 and a twelve month high of $5.61. The firm has a market cap of $1.42 billion, a PE ratio of 20.62 and a beta of 0.06.

Birchcliff Energy (OTCMKTS:BIREF) last released its earnings results on Wednesday, August 11th. The company reported $0.13 earnings per share (EPS) for the quarter. Birchcliff Energy had a return on equity of 5.07% and a net margin of 13.77%. The firm had revenue of $157.64 million for the quarter.

About Birchcliff Energy

Birchcliff Energy Ltd. engages in the exploration, development, production, and acquisition of petroleum and natural gas reserves. Its properties include Peace River Arch and Montney/Doig Resource Play. The company was founded by Myles R. Bosman, Gordon W. Cameron, Bruno P. Geremia, Laurence A. Shaw, Werner A.

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