Birchcliff Energy (TSE:BIR) was upgraded by investment analysts at Tudor Pickering & Holt from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage currently has a C$1.50 price objective on the oil and natural gas company’s stock. Tudor Pickering & Holt’s price target would suggest a potential upside of 111.27% from the company’s previous close.
Several other analysts have also issued reports on the company. National Bank Financial lowered their target price on Birchcliff Energy from C$3.00 to C$1.75 and set an “outperform” rating on the stock in a research note on Tuesday, March 10th. Raymond James lowered their target price on Birchcliff Energy from C$4.50 to C$1.75 and set a “market perform” rating on the stock in a research note on Thursday, March 12th. Royal Bank of Canada lowered Birchcliff Energy from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$4.00 to C$1.50 in a research note on Monday, March 16th. Laurentian lowered their target price on Birchcliff Energy from C$5.00 to C$4.00 in a research note on Thursday, March 12th. Finally, Laurentian Bank of Canada lowered their target price on Birchcliff Energy from C$5.00 to C$4.00 in a research note on Thursday, March 12th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of C$2.67.
Shares of Birchcliff Energy stock opened at C$0.71 on Wednesday. The business’s fifty day simple moving average is C$1.35 and its 200 day simple moving average is C$1.98. The firm has a market capitalization of $194.13 million and a P/E ratio of -3.17. Birchcliff Energy has a 12 month low of C$0.58 and a 12 month high of C$3.98. The company has a current ratio of 0.41, a quick ratio of 0.38 and a debt-to-equity ratio of 39.96.
Birchcliff Energy (TSE:BIR) last issued its quarterly earnings results on Wednesday, February 12th. The oil and natural gas company reported C$0.07 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.06 by C$0.01. The business had revenue of C$164.76 million for the quarter, compared to the consensus estimate of C$155.50 million. Analysts predict that Birchcliff Energy will post 0.2 EPS for the current fiscal year.
About Birchcliff Energy
Birchcliff Energy Ltd., an intermediate oil and natural gas company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids in Western Canada. The company holds interests in the Montney/Doig resource play, as well as other assets located in the Peace River Arch area of Alberta.
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