Raymond James Increases Birchcliff Energy (TSE:BIR) Price Target to C$11.50

Posted by on Sep 10th, 2023

Birchcliff Energy (TSE:BIR – Get Free Report) had its price target lifted by Raymond James from C$10.50 to C$11.50 in a report released on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the oil and natural gas company’s stock. Raymond James’ price target indicates a potential upside of 35.29% from the company’s previous close.

Several other research firms also recently issued reports on BIR. BMO Capital Markets downgraded Birchcliff Energy from an “outperform” rating to a “market perform” rating and increased their target price for the stock from C$8.75 to C$9.00 in a research report on Thursday, July 13th. Stifel Nicolaus increased their target price on Birchcliff Energy from C$7.80 to C$8.50 in a research report on Friday, August 11th. Finally, National Bankshares dropped their target price on Birchcliff Energy from C$10.00 to C$9.25 in a research report on Thursday, June 29th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$11.02.

View Our Latest Report on BIR

Birchcliff Energy Price Performance

Shares of TSE BIR opened at C$8.50 on Friday. The stock has a fifty day simple moving average of C$8.03 and a two-hundred day simple moving average of C$7.99. Birchcliff Energy has a 1-year low of C$7.31 and a 1-year high of C$11.99. The firm has a market cap of C$2.26 billion, a price-to-earnings ratio of 7.39, a price-to-earnings-growth ratio of 0.35 and a beta of 2.24. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 12.77.

Birchcliff Energy (TSE:BIR – Get Free Report) last posted its earnings results on Thursday, August 10th. The oil and natural gas company reported C$0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.03 by C$0.13. The firm had revenue of C$171.29 million for the quarter, compared to the consensus estimate of C$159.90 million. Birchcliff Energy had a return on equity of 13.96% and a net margin of 27.12%. Analysts anticipate that Birchcliff Energy will post 0.8702369 earnings per share for the current year.

Birchcliff Energy Company Profile

(Get Free Report)

Birchcliff Energy Ltd., an intermediate oil and natural gas company, acquires, explores for, develops, and produces natural gas, light oil, condensate, and other natural gas liquids in Western Canada. The company holds interests in the Montney/Doig resource play located approximately 95 km northwest of Grande Prairie, Alberta.

Further Reading

Analyst Recommendations for Birchcliff Energy (TSE:BIR)

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