RBC Capital Sticks to Their Buy Rating for Birchcliff Energy (BIREF)

In a report issued on June 30, Michael Harvey from RBC Capital maintained a Buy rating on Birchcliff Energy (BIREFResearch Report), with a price target of C$18.00. The company’s shares closed last Friday at $6.89.

According to, Harvey is a 5-star analyst with an average return of 23.1% and a 50.3% success rate. Harvey covers the Utilities sector, focusing on stocks such as Crescent Point Energy, Paramount Resources, and Advantage Energy.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Birchcliff Energy with a $10.58 average price target, a 55.4% upside from current levels. In a report issued on June 16, National Bank also maintained a Buy rating on the stock with a C$15.00 price target.

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Birchcliff Energy’s market cap is currently $1.8B and has a P/E ratio of 5.57.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BIREF in relation to earlier this year.

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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. Shaw, Werner A. Siemens, James W. Surbey, and A. Jeffery Tonken on July 6, 2004 and is headquartered in Calgary, Canada.

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