TD Securities Upgrades Birchcliff Energy (TSE:BIR) to Buy

Birchcliff Energy (TSE:BIR) was upgraded by TD Securities from a “hold” rating to a “buy” rating in a research note issued on Thursday,BayStreet.CA reports. The firm currently has a C$7.00 price objective on the oil and natural gas company’s stock, up from their prior price objective of C$5.50. TD Securities’ price objective points to a potential upside of 22.59% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Canaccord Genuity Group dropped their price target on shares of Birchcliff Energy from C$6.00 to C$5.75 in a research report on Friday, November 15th. National Bank Financial raised Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. CIBC increased their target price on Birchcliff Energy from C$5.75 to C$6.00 in a report on Friday, January 17th. Finally, Scotiabank raised shares of Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research report on Friday, January 17th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$6.82.

Birchcliff Energy Price Performance

TSE:BIR opened at C$5.71 on Thursday. Birchcliff Energy has a 52 week low of C$4.53 and a 52 week high of C$6.54. The company has a debt-to-equity ratio of 22.26, a quick ratio of 0.97 and a current ratio of 1.52. The firm’s 50-day simple moving average is C$5.39 and its 200 day simple moving average is C$5.60. The firm has a market cap of C$1.54 billion, a price-to-earnings ratio of 35.69, a P/E/G ratio of 0.35 and a beta of 1.93.

Insider Buying and Selling

In related news, Director Aaron Jeffery Tonken sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of C$5.53, for a total value of C$1,106,000.00. Also, Senior Officer Hue Tran sold 31,400 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of C$5.02, for a total transaction of C$157,628.00. Insiders sold a total of 260,000 shares of company stock worth $1,409,488 in the last three months. 1.55% of the stock is owned by corporate insiders.

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.