Birchcliff Energy (TSE:BIR) Cut to Market Perform at Raymond James Financial

Birchcliff Energy (TSE:BIR) was downgraded by equities researchers at Raymond James Financial from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, BayStreet reports. They presently have a C$8.00 price objective on the oil and natural gas company’s stock, down from their previous price objective of C$8.50. Raymond James Financial’s target price would suggest a potential upside of 27.19% from the stock’s current price.

Separately, Scotiabank raised Birchcliff Energy to a “hold” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$8.58.

Birchcliff Energy Stock Down 3.8%

Shares of BIR stock traded down C$0.25 on Wednesday, reaching C$6.29. 1,974,762 shares of the stock were exchanged, compared to its average volume of 1,444,042. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 24.38. The business’s 50 day moving average price is C$6.39 and its 200 day moving average price is C$6.55. The company has a market capitalization of C$1.73 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 0.35 and a beta of -0.52. Birchcliff Energy has a twelve month low of C$5.69 and a twelve month high of C$8.19.

Birchcliff Energy (TSE:BIR) last posted its quarterly earnings results on Wednesday, August 12th. The oil and natural gas company reported C$0.05 earnings per share for the quarter. The company had revenue of C$193.41 million for the quarter. Birchcliff Energy had a return on equity of 4.22% and a net margin of 13.31%. As a group, sell-side analysts expect that Birchcliff Energy will post 0.1118631 earnings per share for the current fiscal year.

Birchcliff Energy Company Profile

Birchcliff is an intermediate oil and natural gas company based in Calgary, Alberta with operations focused on the exploration and development of the Montney Resource Play in Alberta. Birchcliff’s common shares are listed for trading on the Toronto Stock Exchange under the symbol ‘BIR’.