Birchcliff Energy (TSE:BIR) Stock Rating Lowered by CIBC

Birchcliff Energy (TSE:BIR) was downgraded by equities research analysts at CIBC from an “outperform” rating to a “neutral” rating in a report issued on Tuesday,BayStreet.CA reports. They presently have a C$8.50 target price on the oil and natural gas company’s stock, down from their previous target price of C$9.50. CIBC’s price objective indicates a potential upside of 20.06% from the stock’s current price.

A number of other research firms also recently commented on BIR. National Bankshares dropped their target price on shares of Birchcliff Energy from C$9.25 to C$9.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 22nd. Scotiabank decreased their price objective on shares of Birchcliff Energy from C$10.00 to C$9.00 in a research note on Thursday, October 9th. Haywood Securities raised their price objective on Birchcliff Energy from C$8.00 to C$10.00 in a report on Monday, December 22nd. Finally, BMO Capital Markets raised Birchcliff Energy from a “hold” rating to an “outperform” rating and boosted their target price for the company from C$7.50 to C$8.50 in a report on Monday, December 15th. Four equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$8.33.

Birchcliff Energy Stock Down 1.9%

Shares of TSE BIR traded down C$0.14 during midday trading on Tuesday, hitting C$7.08. 808,283 shares of the company’s stock were exchanged, compared to its average volume of 768,130. The firm’s fifty day simple moving average is C$7.31 and its 200-day simple moving average is C$6.70. 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 company has a market cap of C$1.94 billion, a PE ratio of 26.22, a P/E/G ratio of 0.35 and a beta of -0.08. Birchcliff Energy has a twelve month low of C$4.89 and a twelve month high of C$8.19.

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. To get the full value out of its natural gas wells, several gas plants are completely owned and operated for gas processing purposes.