Birchcliff Energy (TSE:BIR) Rating Increased to Outperform at CIBC

Birchcliff Energy (TSE:BIR) was upgraded by investment analysts at CIBC from a “neutral” rating to an “outperform” rating in a report released on Thursday,BayStreet.CA reports. The brokerage currently has a C$8.00 target price on the oil and natural gas company’s stock, up from their previous target price of C$7.00. CIBC’s price target indicates a potential upside of 40.60% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. National Bank Financial raised shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Canaccord Genuity Group reduced their target price on shares of Birchcliff Energy from C$6.00 to C$5.75 in a report on Friday, November 15th. Scotiabank raised shares of Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a report on Friday, January 17th. TD Securities raised Birchcliff Energy from a “hold” rating to a “buy” rating and upped their target price for the company from C$5.50 to C$7.00 in a research report on Thursday, January 30th. Finally, National Bankshares raised Birchcliff Energy from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from C$6.00 to C$8.00 in a report on Thursday, January 30th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$7.04.

Birchcliff Energy Stock Up 7.4 %

BIR stock traded up C$0.39 during trading hours on Thursday, reaching C$5.69. 2,484,275 shares of the stock were exchanged, compared to its average volume of 1,270,247. 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 firm’s 50-day moving average is C$5.71 and its 200-day moving average is C$5.52. The company has a market cap of C$1.54 billion, a price-to-earnings ratio of 99.67, a PEG 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.

Birchcliff Energy Company Profile

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.