Birchcliff Energy (TSE:BIR) Upgraded to "Buy" at Canaccord Genuity Group

Birchcliff Energy (TSE:BIR - Get Free Report) was upgraded by analysts at Canaccord Genuity Group from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has a C$7.00 price target on the oil and natural gas company's stock, up from their previous price target of C$6.00. Canaccord Genuity Group's price target points to a potential upside of 23.02% from the stock's previous close.

Other analysts have also issued research reports about the stock. Canaccord Genuity Group lowered their target price on shares of Birchcliff Energy from C$6.00 to C$5.75 in a report on Friday, November 15th. National Bank Financial upgraded Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 22nd. TD Securities raised Birchcliff Energy from a "hold" rating to a "buy" rating and upped their price target for the company from C$5.50 to C$7.00 in a research note on Thursday, January 30th. National Bankshares set a C$8.00 price target on Birchcliff Energy and gave the stock an "outperform" rating in a report on Thursday. Finally, CIBC upgraded Birchcliff Energy from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from C$7.00 to C$8.00 in a report on Thursday. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Birchcliff Energy presently has an average rating of "Buy" and a consensus price target of C$7.04.

Birchcliff Energy Trading Up 7.4 %

Shares of TSE BIR traded up C$0.39 during mid-day trading on Thursday, hitting C$5.69. The company's stock had a trading volume of 2,484,275 shares, compared to its average volume of 1,270,247. Birchcliff Energy has a one year low of C$4.53 and a one year high of C$6.54. The company's fifty day simple moving average is C$5.71 and its 200-day simple moving average is C$5.52. The company has a debt-to-equity ratio of 27.63, a current ratio of 1.01 and a quick ratio of 0.97. The stock has a market cap of C$1.54 billion, a price-to-earnings ratio of 99.67, a price-to-earnings-growth ratio of 0.35 and a beta of 1.93.

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.

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