Birchcliff Energy (TSE:BIR) Raised to “Outperform” at Scotiabank

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

BIR has been the subject of several other research reports. Cormark raised shares of Birchcliff Energy to a “strong-buy” rating in a research note on Monday, September 23rd. TD Securities lowered 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 lowered their price objective on shares of Birchcliff Energy from C$6.50 to C$6.00 in a research note on Friday, September 27th. Finally, Canaccord Genuity Group lowered their price objective on shares of Birchcliff Energy from C$6.00 to C$5.75 in a research note on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$6.59.

Birchcliff Energy Price Performance

Shares of BIR opened at C$5.79 on Friday. Birchcliff Energy has a 1-year low of C$4.53 and a 1-year high of C$6.54. The stock has a market cap of C$1.56 billion, a PE ratio of 36.19, 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$5.25 and a two-hundred day simple moving average of C$5.61. The company has a debt-to-equity ratio of 22.26, a current ratio of 1.52 and a quick ratio of 0.97.

Insider Buying and Selling

In other Birchcliff Energy news, Senior Officer Hue Tran sold 28,600 shares of the firm’s stock in a transaction that occurred 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 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 transaction of C$1,106,000.00. Insiders sold 260,000 shares of company stock worth $1,409,488 over the last 90 days. 1.55% of the stock is owned by insiders.

About Birchcliff Energy

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.