Birchcliff Energy (TSE:BIR) PT Set at C$7.50 by Raymond James

Birchcliff Energy (TSE:BIR) has been assigned a C$7.50 price target by research analysts at Raymond James in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has a “market perform” rating on the oil and natural gas company’s stock. Raymond James’ target price indicates a potential upside of 28.87% from the company’s previous close.

Several other equities research analysts have also recently weighed in on BIR. TD Securities raised Birchcliff Energy from a “hold” rating to a “buy” rating and upped their price target for the stock from C$5.50 to C$7.00 in a research note on Thursday, January 30th. Cormark upgraded shares of Birchcliff Energy to a “strong-buy” rating in a report on Thursday, March 13th. Scotiabank raised shares of Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a report on Friday, January 17th. Cibc World Mkts raised Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 13th. Finally, Canaccord Genuity Group raised Birchcliff Energy from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$6.00 to C$7.00 in a research note on Thursday, March 13th. One research analyst has rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$7.09.

Birchcliff Energy Price Performance

BIR opened at C$5.82 on Tuesday. The stock’s 50 day moving average price is C$5.88 and its 200-day moving average price is C$5.57. Birchcliff Energy has a 52-week low of C$4.53 and a 52-week high of C$6.95. The company has a debt-to-equity ratio of 27.63, a quick ratio of 0.97 and a current ratio of 1.01. The stock has a market capitalization of C$1.58 billion, a PE ratio of 101.94, a price-to-earnings-growth ratio of 0.35 and a beta of 1.93.

Insider Activity

In related news, Senior Officer Hue Tran sold 30,000 shares of Birchcliff Energy stock in a transaction dated Friday, March 21st. The stock was sold at an average price of C$6.30, for a total value of C$189,000.00. Insiders own 1.55% of the company’s stock.

Birchcliff Energy Company Profile

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.