Birchcliff Energy (TSE:BIR) was downgraded by equities research analysts at CIBC from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, PriceTargets.com reports. They presently have a C$8.50 price objective on the oil and natural gas company’s stock, down from their previous price objective of C$9.00. CIBC’s price objective points to a potential upside of 23.73% from the company’s current price.
Several other equities analysts have also recently weighed in on the company. BMO Capital Markets increased their price target on Birchcliff Energy from C$8.50 to C$9.00 in a report on Friday, November 12th. TD Securities increased their price target on Birchcliff Energy from C$8.50 to C$9.00 and gave the company a “buy” rating in a report on Friday, November 12th. Cormark increased their price target on Birchcliff Energy to C$13.00 and gave the company a “buy” rating in a report on Friday, November 12th. reaffirmed a “buy” rating on shares of Birchcliff Energy in a report on Thursday, September 16th. Finally, ATB Capital raised their target price on Birchcliff Energy from C$7.50 to C$8.75 in a report on Tuesday, November 23rd. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$7.80.
Birchcliff Energy stock opened at C$6.87 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 38.54. The company has a market capitalization of C$1.82 billion and a P/E ratio of 7.54. The stock’s 50 day moving average is C$6.80 and its 200 day moving average is C$6.08. Birchcliff Energy has a twelve month low of C$2.01 and a twelve month high of C$7.85.
About Birchcliff Energy
Birchcliff Energy Ltd., an intermediate oil and natural gas company, acquires, explores for, develops, and produces natural gas, light oil, condensate, 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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