BMO Capital Markets Upgrades Birchcliff Energy (TSE:BIR) to “Outperform”

Birchcliff Energy (TSE:BIR) was upgraded by stock analysts at BMO Capital Markets from a “hold” rating to an “outperform” rating in a note issued to investors on Monday, Marketbeat Ratings reports. The firm currently has a C$8.50 price target on the oil and natural gas company’s stock, up from their prior price target of C$7.50. BMO Capital Markets’ price target indicates a potential upside of 18.22% from the stock’s previous close.

Several other research analysts have also issued reports on BIR. Scotiabank reduced their target price on Birchcliff Energy from C$10.00 to C$9.00 in a research report on Thursday, October 9th. National Bankshares dropped their price target on Birchcliff Energy from C$9.25 to C$9.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. Finally, CIBC upped their price objective on shares of Birchcliff Energy from C$8.50 to C$9.50 in a report on Wednesday, October 15th. Four analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$8.25.

Birchcliff Energy Stock Performance

Shares of BIR stock opened at C$7.19 on Monday. Birchcliff Energy has a 12-month low of C$4.53 and a 12-month high of C$8.19. The business’s fifty day simple moving average is C$6.88 and its 200-day simple moving average is C$6.69. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 27.63. The company has a market cap of C$1.97 billion, a PE ratio of 26.63, a PEG ratio of 0.35 and a beta of 0.09.

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.