Birchcliff Energy (TSE:BIR) Stock Price Expected to Rise, Haywood Securities Analyst Says

Birchcliff Energy (TSE:BIR) had its target price raised by analysts at Haywood Securities from C$8.00 to C$10.00 in a report released on Monday,BayStreet.CA reports. Haywood Securities’ price objective suggests a potential upside of 32.28% from the stock’s current price.

BIR has been the subject of a number of other research reports. National Bankshares dropped their price target on shares of Birchcliff Energy from C$9.25 to C$9.00 and set an “outperform” rating for the company in a research note on Wednesday, October 22nd. BMO Capital Markets raised shares of Birchcliff Energy from a “hold” rating to an “outperform” rating and raised their price objective for the stock from C$7.50 to C$8.50 in a report on Monday, December 15th. Scotiabank dropped their target price on shares of Birchcliff Energy from C$10.00 to C$9.00 in a research report on Thursday, October 9th. Finally, CIBC increased their price target on shares of Birchcliff Energy from C$8.50 to C$9.50 in a research report on Wednesday, October 15th. Four research analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$8.44.

Birchcliff Energy Trading Up 4.1%

Shares of BIR opened at C$7.56 on Monday. Birchcliff Energy has a one year low of C$4.89 and a one year high of C$8.19. The stock has a 50-day moving average price of C$7.02 and a 200 day moving average price of C$6.71. 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 company has a market capitalization of C$2.07 billion, a P/E ratio of 28.00, a P/E/G ratio of 0.35 and a beta of 0.09.

About Birchcliff Energy

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. To get the full value out of its natural gas wells, several gas plants are completely owned and operated for gas processing purposes.