Birchcliff Energy (TSE:BIR) Upgraded by TD Securities to Buy Rating

Birchcliff Energy (TSE:BIR - Get Free Report) was upgraded by equities researchers at TD Securities from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has a C$7.00 price objective on the oil and natural gas company's stock, up from their previous price objective of C$5.50. TD Securities' price objective would suggest a potential upside of 21.11% from the company's current price.

A number of other equities analysts have also issued reports on the stock. Scotiabank raised shares of Birchcliff Energy from a "sector perform" rating to an "outperform" rating in a research report on Friday, January 17th. CIBC raised their target price on shares of Birchcliff Energy from C$5.75 to C$6.00 in a report on Friday, January 17th. National Bank Financial raised shares of Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 22nd. Finally, Canaccord Genuity Group cut their price target on Birchcliff Energy from C$6.00 to C$5.75 in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of C$6.82.

Birchcliff Energy Stock Performance

Shares of BIR stock traded up C$0.07 during mid-day trading on Thursday, reaching C$5.78. The stock had a trading volume of 903,116 shares, compared to its average volume of 1,107,243. The company has a current ratio of 1.52, a quick ratio of 0.97 and a debt-to-equity ratio of 22.26. 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 cap of C$1.56 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 0.35 and a beta of 1.93. The business's fifty day moving average is C$5.39 and its 200-day moving average is C$5.60.

Insider Transactions at Birchcliff Energy

In related news, Senior Officer Hue Tran sold 28,600 shares of the company's stock in a transaction dated 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 Birchcliff Energy stock in a transaction dated 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. Insiders have sold a total of 260,000 shares of company stock valued at $1,409,488 in the last ninety days. 1.55% of the stock is currently owned by corporate 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.