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

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

Several other equities analysts have also commented on BIR. National Bankshares decreased their target price on shares of Birchcliff Energy from C$6.50 to C$6.00 in a report on Friday, September 27th. TD Securities decreased their target price on shares of Birchcliff Energy from C$5.50 to C$5.00 in a report on Tuesday, October 1st. Canaccord Genuity Group decreased their target price on shares of Birchcliff Energy from C$6.00 to C$5.75 in a report on Friday, November 15th. Finally, Cormark raised shares of Birchcliff Energy to a “strong-buy” rating in a 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$6.48.

Birchcliff Energy Stock Performance

Birchcliff Energy stock traded up C$0.15 during midday trading on Friday, hitting C$5.75. The company’s stock had a trading volume of 574,263 shares, compared to its average volume of 882,819. The company has a debt-to-equity ratio of 22.26, a current ratio of 1.52 and a quick ratio of 0.97. 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 cap of C$1.55 billion, a price-to-earnings ratio of 35.94, a PEG ratio of 0.35 and a beta of 1.93. The company has a 50-day moving average price of C$5.23 and a two-hundred day moving average price of C$5.61.

Insider Transactions at Birchcliff Energy

In other Birchcliff Energy news, Senior Officer Hue Tran sold 28,600 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of C$5.10, for a total transaction of C$145,860.00. Also, Director Aaron Jeffery Tonken sold 200,000 shares of the company’s stock in a transaction 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. In the last 90 days, insiders have sold 260,000 shares of company stock worth $1,409,488. Company insiders own 1.55% of the company’s stock.

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.