Raymond James Financial Forecasts Strong Price Appreciation for Birchcliff Energy (TSE:BIR) Stock

Key Points

• Raymond James raised Birchcliff Energy’s price target to C$8.50 from C$8.00 and maintained an “outperform” rating, implying 32.61% upside from the reported C$6.41 share price.
• Analyst sentiment remains positive overall: Scotiabank upgraded the stock to “hold,” while MarketBeat reports a consensus “Moderate Buy” rating and an average target of C$8.67.
• Birchcliff reported quarterly EPS of C$0.05 on revenue of C$193.41 million, with a 9.59% net margin and 3.07% return on equity; shares rose 0.5% in the cited session.

Birchcliff Energy (TSE:BIR - Get Free Report) had its target price raised by stock analysts at Raymond James Financial from C$8.00 to C$8.50 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the oil and natural gas company's stock. Raymond James Financial's price objective suggests a potential upside of 32.61% from the stock's current price.

Separately, Scotiabank upgraded shares of Birchcliff Energy to a "hold" rating in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$8.67.

Birchcliff Energy Stock Up 0.5%

Shares of BIR stock traded up C$0.03 during mid-day trading on Thursday, reaching C$6.41. 921,196 shares of the company's stock traded hands, compared to its average volume of 1,476,536. The company's 50-day moving average price is C$6.38 and its 200-day moving average price is C$6.65. The company has a market cap of C$1.76 billion, a P/E ratio of 25.64, a P/E/G ratio of 0.35 and a beta of -0.57. The company has a quick ratio of 0.97, a current ratio of 1.17 and a debt-to-equity ratio of 23.09. Birchcliff Energy has a 12 month low of C$5.69 and a 12 month high of C$8.19.

Birchcliff Energy (TSE:BIR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The oil and natural gas company reported C$0.05 earnings per share (EPS) for the quarter. Birchcliff Energy had a net margin of 9.59% and a return on equity of 3.07%. The company had revenue of C$193.41 million during the quarter. On average, equities analysts expect that Birchcliff Energy will post 0.1118631 earnings per share for the current fiscal year.

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

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