Birchcliff Energy (TSE:BIR) Stock Rating Upgraded by CIBC

Birchcliff Energy (TSE:BIR) was upgraded by CIBC from a “neutral” rating to an “outperform” rating in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a C$8.00 price objective on the oil and natural gas company’s stock, up from their prior price objective of C$7.00. CIBC’s target price points to a potential upside of 39.37% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Canaccord Genuity Group reduced their price objective on Birchcliff Energy from C$6.00 to C$5.75 in a research note on Friday, November 15th. National Bank Financial upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. National Bankshares upgraded Birchcliff Energy from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from C$6.00 to C$8.00 in a research note on Thursday, January 30th. Scotiabank upgraded Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research note on Friday, January 17th. Finally, TD Securities upgraded Birchcliff Energy from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$5.50 to C$7.00 in a research note on Thursday, January 30th. One analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Birchcliff Energy has a consensus rating of “Buy” and an average price target of C$7.04.

Birchcliff Energy Trading Up 0.2 %

Shares of BIR opened at C$5.74 on Thursday. The stock’s 50-day moving average is C$5.71 and its two-hundred day moving average is C$5.52. The stock has a market cap of C$1.56 billion, a PE ratio of 100.54, a P/E/G ratio of 0.35 and a beta of 1.93. Birchcliff Energy has a 12 month low of C$4.53 and a 12 month high of C$6.54. The company has a debt-to-equity ratio of 27.63, a current ratio of 1.01 and a quick ratio of 0.97.

About Birchcliff Energy

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.