Canaccord Genuity Group Upgrades Birchcliff Energy (TSE:BIR) to “Buy”

Birchcliff Energy (TSE:BIR) was upgraded by analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has a C$7.00 target price on the oil and natural gas company’s stock, up from their previous target price of C$6.00. Canaccord Genuity Group’s target price would suggest a potential upside of 21.95% from the stock’s current price.

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

Birchcliff Energy Trading Up 0.2 %

Birchcliff Energy stock opened at C$5.74 on Thursday. The firm has a 50-day moving average of C$5.71 and a 200-day moving average of C$5.52. Birchcliff Energy has a one year low of C$4.53 and a one year 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. The company has a market cap of C$1.56 billion, a price-to-earnings ratio of 100.54, a P/E/G ratio of 0.35 and a beta of 1.93.

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.