National Bank Financial Upgrades Birchcliff Energy (TSE:BIR) to “Strong-Buy”

Birchcliff Energy (TSE:BIR) was upgraded by equities research analysts at National Bank Financial from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other research analysts have also weighed in on the company. CIBC upped their price objective on Birchcliff Energy from C$5.75 to C$6.00 in a report on Friday, January 17th. TD Securities reduced their price objective on shares of Birchcliff Energy from C$5.50 to C$5.00 in a research note on Tuesday, October 1st. National Bankshares decreased their price target on Birchcliff Energy from C$6.50 to C$6.00 in a research note on Friday, September 27th. Scotiabank raised Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a report on Friday, January 17th. Finally, Canaccord Genuity Group cut their price target on Birchcliff Energy from C$6.00 to C$5.75 in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$6.25.

Birchcliff Energy Price Performance

Shares of BIR opened at C$6.08 on Wednesday. The company has a current ratio of 1.52, a quick ratio of 0.97 and a debt-to-equity ratio of 22.26. The stock’s 50 day moving average is C$5.29 and its two-hundred day moving average is C$5.61. Birchcliff Energy has a twelve month low of C$4.53 and a twelve month high of C$6.54. The firm has a market capitalization of C$1.64 billion, a PE ratio of 38.00, a P/E/G ratio of 0.35 and a beta of 1.93.

Insider Activity at Birchcliff Energy

In related news, Director Aaron Jeffery Tonken sold 200,000 shares of the stock in a transaction dated 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. Also, Senior Officer Hue Tran sold 31,400 shares of Birchcliff Energy stock in a transaction dated 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 quarter, insiders sold 260,000 shares of company stock valued at $1,409,488. 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.