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

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

A number of other equities analysts have also weighed in on BIR. Canaccord Genuity Group cut their target price on shares of Birchcliff Energy from C$6.00 to C$5.75 in a research report on Friday, November 15th. National Bankshares cut their target price on shares of Birchcliff Energy from C$6.50 to C$6.00 in a research report on Friday, September 27th. TD Securities cut their target price on shares of Birchcliff Energy from C$5.50 to C$5.00 in a research report on Tuesday, October 1st. Finally, Cormark upgraded shares of Birchcliff Energy to a “strong-buy” rating in a research report on Monday, September 23rd. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$6.48.

Birchcliff Energy Stock Performance

TSE BIR traded up C$0.15 during trading hours on Friday, reaching C$5.75. 574,263 shares of the company were exchanged, compared to its average volume of 882,819. Birchcliff Energy has a 1 year low of C$4.53 and a 1 year high of C$6.54. The business’s 50 day simple moving average is C$5.23 and its 200-day simple moving average is C$5.61. The company has a quick ratio of 0.97, a current ratio of 1.52 and a debt-to-equity ratio of 22.26. The stock has a market capitalization of C$1.55 billion, a P/E ratio of 35.94, a P/E/G ratio of 0.35 and a beta of 1.93.

Insider Buying and Selling at Birchcliff Energy

In other Birchcliff Energy news, Senior Officer Hue Tran sold 31,400 shares of Birchcliff Energy stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of C$5.02, for a total transaction of C$157,628.00. Also, Director Aaron Jeffery Tonken sold 200,000 shares of Birchcliff Energy 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 transaction of C$1,106,000.00. Insiders sold a total of 260,000 shares of company stock worth $1,409,488 over the last three months. 1.55% of the stock is owned by insiders.

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.