CIBC Forecasts Strong Price Appreciation for Birchcliff Energy (TSE:BIR) Stock

Birchcliff Energy (TSE:BIR) had its price objective lifted by investment analysts at CIBC from C$5.75 to C$6.00 in a research note issued on Friday,BayStreet.CA reports. CIBC’s target price would suggest a potential upside of 4.35% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity Group cut their price target on Birchcliff Energy from C$6.00 to C$5.75 in a report on Friday, November 15th. TD Securities dropped their price target on Birchcliff Energy from C$5.50 to C$5.00 in a research note on Tuesday, October 1st. Scotiabank raised Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research report on Friday. National Bankshares reduced their price target on Birchcliff Energy from C$6.50 to C$6.00 in a report on Friday, September 27th. Finally, Cormark raised Birchcliff Energy to a “strong-buy” rating in a report on Monday, September 23rd. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$6.48.

Birchcliff Energy Price Performance

Shares of BIR traded up C$0.15 during mid-day 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. Birchcliff Energy has a 1-year low of C$4.53 and a 1-year high of C$6.54. The firm 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. The firm has a 50-day simple moving average of C$5.23 and a 200 day simple moving average of C$5.61. 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 Transactions at Birchcliff Energy

In related news, Director Aaron Jeffery Tonken sold 200,000 shares of the firm’s 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. Also, Senior Officer Hue Tran sold 31,400 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of C$5.02, for a total value of C$157,628.00. In the last ninety days, insiders have sold 260,000 shares of company stock worth $1,409,488. 1.55% of the stock is currently owned by company 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.