Birchcliff Energy (BIR) Price Target Raised to C$6.25

Birchcliff Energy (TSE:BIR) had its price objective boosted by Raymond James Financial from C$5.25 to C$6.25 in a report released on Wednesday. The firm currently has an outperform rating on the oil and natural gas company’s stock.

A number of other research firms have also recently commented on BIR. National Bank Financial lowered their price objective on shares of Birchcliff Energy from C$8.00 to C$7.00 and set an outperform rating for the company in a research report on Tuesday, January 9th. BMO Capital Markets upped their price objective on shares of Birchcliff Energy from C$3.50 to C$4.00 and gave the company a market perform rating in a research report on Wednesday. Eight Capital increased their target price on Birchcliff Energy from C$5.00 to C$5.35 in a report on Wednesday. TD Securities upgraded Birchcliff Energy from a buy rating to an action list buy rating and lowered their target price for the stock from C$8.50 to C$6.00 in a report on Thursday, March 22nd. Finally, CIBC increased their target price on Birchcliff Energy from C$5.00 to C$6.00 in a report on Tuesday, March 20th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of C$6.61.

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BIR opened at C$4.15 on Wednesday. Birchcliff Energy has a 12 month low of C$2.90 and a 12 month high of C$7.98.

Birchcliff Energy (TSE:BIR) last released its quarterly earnings data on Wednesday, February 14th. The oil and natural gas company reported C$0.09 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.15 by C($0.06). Birchcliff Energy had a negative net margin of 112.10% and a negative return on equity of 28.79%. The firm had revenue of C$166.15 million during the quarter, compared to the consensus estimate of C$175.40 million.

The company also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Monday, April 2nd were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Wednesday, March 14th.

In other news, insider David Humphreys bought 16,000 shares of the stock in a transaction on Monday, March 12th. The stock was purchased at an average price of C$3.04 per share, for a total transaction of C$48,640.00. In the last quarter, insiders have acquired 33,125 shares of company stock valued at $147,208.

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About Birchcliff Energy

Birchcliff Energy Ltd., an intermediate oil and gas company, explores for, develops, and produces natural gas, light oil, and natural gas liquids in Western Canada. The company holds interests in the Montney/Doig resource play, as well as other natural gas, crude oil, and natural gas liquids assets located in the Peace River Arch area of Alberta.

Analyst Recommendations for Birchcliff Energy (TSE:BIR)

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