National Bankshares Upgrades Birchcliff Energy (TSE:BIR) to Outperform

Birchcliff Energy (TSE:BIR) was upgraded by research analysts at National Bankshares from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a C$8.00 price objective on the oil and natural gas company’s stock, up from their prior price objective of C$6.00. National Bankshares’ price objective would indicate a potential upside of 40.11% from the company’s previous close.

Several other research firms also recently issued reports on BIR. CIBC boosted their price objective on shares of Birchcliff Energy from C$5.75 to C$6.00 in a report on Friday, January 17th. National Bank Financial upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. TD Securities upgraded Birchcliff Energy from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$5.50 to C$7.00 in a research report on Thursday. Canaccord Genuity Group lowered their price objective on Birchcliff Energy from C$6.00 to C$5.75 in a research report on Friday, November 15th. Finally, Scotiabank raised Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research report on Friday, January 17th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$6.82.

Birchcliff Energy Trading Down 4.0 %

Shares of Birchcliff Energy stock opened at C$5.71 on Thursday. The company has a market cap of C$1.54 billion, a price-to-earnings ratio of 35.69, a PEG ratio of 0.35 and a beta of 1.93. Birchcliff Energy has a 1 year low of C$4.53 and a 1 year high of C$6.54. The company’s fifty day simple moving average is C$5.39 and its 200-day simple moving average is C$5.60. The company has a current ratio of 1.52, a quick ratio of 0.97 and a debt-to-equity ratio of 22.26.

Insider Buying and Selling at Birchcliff Energy

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