Birchcliff Energy (TSE:BIR) Rating Increased to Buy at TD Securities

Birchcliff Energy (TSE:BIR) was upgraded by investment analysts at TD Securities from a “hold” rating to a “buy” rating in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a C$7.00 target price on the oil and natural gas company’s stock, up from their previous target price of C$5.50. TD Securities’ price objective points to a potential upside of 17.25% from the stock’s current price.

BIR has been the subject of a number of other reports. National Bank Financial raised Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Scotiabank raised Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research note on Friday, January 17th. 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. Finally, CIBC raised their price target on Birchcliff Energy from C$5.75 to C$6.00 in a research note on Friday, January 17th. Two equities research 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 stock. Based on data from MarketBeat.com, Birchcliff Energy has an average rating of “Buy” and a consensus price target of C$6.82.

Birchcliff Energy Stock Up 2.1 %

Birchcliff Energy stock traded up C$0.12 during mid-day trading on Thursday, hitting C$5.97. The company’s stock had a trading volume of 95,966 shares, compared to its average volume of 1,103,588. Birchcliff Energy has a 52-week low of C$4.53 and a 52-week high of C$6.54. The firm’s 50 day moving average is C$5.38 and its 200 day moving average is C$5.60. The company has a debt-to-equity ratio of 22.26, a current ratio of 1.52 and a quick ratio of 0.97. The company has a market cap of C$1.61 billion, a PE ratio of 37.31, a price-to-earnings-growth ratio of 0.35 and a beta of 1.93.

Insider Buying and Selling at Birchcliff Energy

In other news, Director Aaron Jeffery Tonken sold 200,000 shares of the business’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. Also, Senior Officer Hue Tran sold 28,600 shares of the business’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 value of C$145,860.00. Insiders have sold 260,000 shares of company stock valued at $1,409,488 in the last 90 days. 1.55% of the stock is currently 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.