Birchcliff Energy (TSE:BIR) Upgraded to “Outperform” at National Bankshares

Birchcliff Energy (TSE:BIR) was upgraded by National Bankshares from a “sector perform” rating to an “outperform” rating in a report released on Thursday,BayStreet.CA reports. The firm currently has a C$8.00 target price on the oil and natural gas company’s stock, up from their previous target price of C$6.00. National Bankshares’ price objective suggests a potential upside of 34.00% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Scotiabank upgraded shares of Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research note on Friday, January 17th. TD Securities raised shares of Birchcliff Energy from a “hold” rating to a “buy” rating and raised their price target for the stock from C$5.50 to C$7.00 in a research report on Thursday. CIBC raised their price target on shares of Birchcliff Energy from C$5.75 to C$6.00 in a research 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 decreased their price target on shares of Birchcliff Energy from C$6.00 to C$5.75 in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Birchcliff Energy currently has an average rating of “Buy” and a consensus target price of C$6.82.

Birchcliff Energy Stock Up 2.1 %

BIR traded up C$0.12 during trading hours on Thursday, hitting C$5.97. 95,966 shares of the company’s stock were exchanged, compared to its average volume of 1,103,588. Birchcliff Energy has a 1-year low of C$4.53 and a 1-year high of C$6.54. The stock’s 50-day moving average is C$5.38 and its two-hundred day moving average is C$5.60. The stock has a market cap of C$1.61 billion, a price-to-earnings ratio of 37.31, a PEG ratio of 0.35 and a beta of 1.93. The company has a quick ratio of 0.97, a current ratio of 1.52 and a debt-to-equity ratio of 22.26.

Insider Transactions at Birchcliff Energy

In other news, Senior Officer Hue Tran sold 28,600 shares of Birchcliff Energy stock in a transaction 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. Also, Director Aaron Jeffery Tonken sold 200,000 shares of Birchcliff Energy stock in a transaction on Friday, November 22nd. The shares were sold at an average price of C$5.53, for a total transaction of C$1,106,000.00. In the last 90 days, insiders have sold 260,000 shares of company stock worth $1,409,488. Company insiders own 1.55% of the company’s stock.

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.