Canaccord Genuity Group Issues Pessimistic Forecast for Birchcliff Energy (TSE:BIR) Stock Price

Birchcliff Energy (TSE:BIR) had its price target cut by Canaccord Genuity Group from C$6.00 to C$5.75 in a research note issued on Friday,BayStreet.CA reports. Canaccord Genuity Group’s target price would suggest a potential upside of 16.40% from the company’s current price.

Several other equities research analysts also recently commented on BIR. Cormark upgraded shares of Birchcliff Energy to a “strong-buy” rating in a research report on Monday, September 23rd. TD Securities cut their target price on shares of Birchcliff Energy from C$5.50 to C$5.00 in a research report on Tuesday, October 1st. National Bankshares cut their target price on shares of Birchcliff Energy from C$6.50 to C$6.00 in a research report on Friday, September 27th. Finally, Scotiabank cut their target price on shares of Birchcliff Energy from C$7.50 to C$7.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Birchcliff Energy currently has an average rating of “Hold” and a consensus target price of C$6.45.

Birchcliff Energy Trading Down 3.7 %

BIR opened at C$4.94 on Friday. The company’s 50 day moving average is C$5.47 and its 200-day moving average is C$5.79. Birchcliff Energy has a 1-year low of C$4.61 and a 1-year high of C$7.01. The company has a current ratio of 1.52, a quick ratio of 0.97 and a debt-to-equity ratio of 22.26. The company has a market cap of C$1.33 billion, a P/E ratio of 30.88, a PEG ratio of 0.35 and a beta of 1.93.

Birchcliff Energy (TSE:BIR) last posted its quarterly earnings results on Wednesday, August 14th. The oil and natural gas company reported C$0.17 earnings per share for the quarter, beating analysts’ consensus estimates of C($0.01) by C$0.18. Birchcliff Energy had a net margin of 6.24% and a return on equity of 1.81%. The company had revenue of C$146.98 million for the quarter. Equities research analysts predict that Birchcliff Energy will post 0.1118631 earnings per share for the current fiscal year.

Birchcliff Energy Company Profile

Birchcliff Energy Ltd., an intermediate oil and natural gas company, explores for, develops, and produces natural gas, light oil, condensate, and other natural gas liquids in Western Canada. The company holds interests in the areas of Montney/Doig Resource Play, including the Pouce Coupe and Gordondale properties in Alberta.