Royal Bank Of Canada Issues Positive Forecast for Birchcliff Energy (TSE:BIR) Stock Price

Birchcliff Energy (TSE:BIR) had its price target raised by Royal Bank Of Canada from C$7.00 to C$8.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the oil and natural gas company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 7.10% from the stock’s previous close.

Other research analysts have also issued reports about the stock. CIBC upgraded shares of Birchcliff Energy from a “neutral” rating to an “outperform” rating and upped their target price for the company from C$7.00 to C$8.00 in a report on Thursday, March 13th. National Bankshares upped their target price on shares of Birchcliff Energy from C$8.00 to C$8.50 and gave the company an “outperform” rating in a report on Thursday, May 22nd. Raymond James Financial set a C$7.50 target price on shares of Birchcliff Energy and gave the company a “market perform” rating in a report on Tuesday, April 8th. Canaccord Genuity Group upgraded shares of Birchcliff Energy from a “hold” rating to a “buy” rating and upped their target price for the company from C$6.00 to C$7.00 in a report on Thursday, March 13th. Finally, Cibc World Mkts upgraded shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 13th. Six equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$7.25.

Birchcliff Energy Price Performance

TSE:BIR opened at C$7.47 on Monday. The firm has a market cap of C$2.03 billion, a price-to-earnings ratio of 130.84, a price-to-earnings-growth ratio of 0.35 and a beta of 1.93. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 27.63. The company’s 50-day moving average is C$6.69 and its two-hundred day moving average is C$6.07. Birchcliff Energy has a 12-month low of C$4.53 and a 12-month high of C$7.86.

Insider Activity

In other Birchcliff Energy news, Director Aaron Jeffery Tonken sold 119,700 shares of the company’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of C$7.39, for a total transaction of C$884,583.00. Also, Senior Officer Robyn Bourgeois sold 26,800 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of C$7.04, for a total transaction of C$188,672.00. In the last 90 days, insiders have sold 147,100 shares of company stock worth $1,077,277. Insiders own 1.55% of the company’s stock.

Birchcliff Energy Company Profile

Birchcliff Energy Ltd is an intermediate oil and gas company that explores for, develops, and produces natural gas, light oil, and natural gas liquids. The company conducts its drilling program in resource plays located in the Peace River Arch region of Alberta. Birchcliff focuses on operating nearly all its high working production, which is surrounded by blocks of high working interest lands where it owns and/or controls the infrastructure.