Birchcliff Energy (BIR) Received its Third Buy in a Row


Analysts have been quite happy with Birchcliff Energy (BIR) stock lately, as after GMP FirstEnergy and Raymond James rated the stock a Buy this past month, there is another positive note, this time from Canaccord Genuity. Canaccord Genuity’s analyst Anthony Petrucci reiterates their Buy rating on the shares today.

According to TipRanks.com, Petrucci is ranked 0 out of 5 stars with an average return of -18.9% and a 24.3% success rate. Petrucci covers the Basic Materials sector, focusing on stocks such as Essential Energy Services Ltd, Frontera Energy Corporation, and Tamarack Valley Energy Ltd.

Currently, the analyst consensus on Birchcliff Energy is a Strong Buy with an average price target of C$5.31.

Based on Birchcliff Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of C$71.95 million. In comparison, last year the company had a net profit of C$15.13 million.

Birchcliff Energy Ltd. is an intermediate oil and natural gas company, which engages in the exploration, development, and production of natural gas, crude oil, and natural gas liquids (NGLs). Its properties include Peace River Arch, and the Montney/Doig Resource Play. The company was founded by Myles R. Bosman, Gordon W. Cameron, Bruno P. Geremia, Laurence A.

The company’s shares closed on Tuesday at C$3.73.

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