Birchcliff Energy (TSE:BIR) Raised to Strong-Buy at Cormark

Birchcliff Energy (TSE:BIR) was upgraded by investment analysts at Cormark to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

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

Birchcliff Energy Price Performance

BIR stock opened at C$5.74 on Thursday. The company has a debt-to-equity ratio of 27.63, a current ratio of 1.01 and a quick ratio of 0.97. Birchcliff Energy has a one year low of C$4.53 and a one year high of C$6.54. 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. The firm has a 50 day simple moving average of C$5.71 and a two-hundred day simple moving average of C$5.52.

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.