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

Birchcliff Energy (TSE:BIR) was upgraded by Scotiabank from a “sector perform” rating to an “outperform” rating in a research report issued on Friday,BayStreet.CA reports.

Other equities analysts also recently issued reports about the stock. Canaccord Genuity Group decreased their price objective on shares of Birchcliff Energy from C$6.00 to C$5.75 in a report on Friday, November 15th. Cormark raised shares of Birchcliff Energy to a “strong-buy” rating in a report on Monday, September 23rd. National Bankshares decreased their price objective on shares of Birchcliff Energy from C$6.50 to C$6.00 in a report on Friday, September 27th. Finally, TD Securities decreased their price objective on shares of Birchcliff Energy from C$5.50 to C$5.00 in a report on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$6.59.

Birchcliff Energy Stock Performance

Shares of TSE BIR opened at C$5.79 on Friday. The company’s fifty day moving average price is C$5.25 and its 200 day moving average price is C$5.61. Birchcliff Energy has a 1 year low of C$4.53 and a 1 year high of C$6.54. The company has a market capitalization of C$1.56 billion, a PE ratio of 36.19, a price-to-earnings-growth ratio of 0.35 and a beta of 1.93. The company has a debt-to-equity ratio of 22.26, a quick ratio of 0.97 and a current ratio of 1.52.

Insider Activity

In related news, Director Aaron Jeffery Tonken sold 200,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of C$5.53, for a total transaction of C$1,106,000.00. Also, Senior Officer Hue Tran sold 28,600 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of C$5.10, for a total transaction of C$145,860.00. Insiders sold 260,000 shares of company stock worth $1,409,488 over the last three months. Insiders own 1.55% of the company’s stock.

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.