CIBC Upgrades Birchcliff Energy (TSE:BIR) to Outperform

Birchcliff Energy (TSE:BIR) was upgraded by CIBC from a “neutral” rating to an “outperform” rating in a research report issued on Thursday,BayStreet.CA reports. The firm presently has a C$8.00 price objective on the oil and natural gas company’s stock, up from their previous price objective of C$7.00. CIBC’s price target suggests a potential upside of 40.60% from the stock’s current price.

BIR has been the topic of a number of other reports. TD Securities upgraded Birchcliff Energy from a “hold” rating to a “buy” rating and lifted their target price for the stock from C$5.50 to C$7.00 in a research note on Thursday, January 30th. Scotiabank raised Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research report on Friday, January 17th. National Bank Financial raised Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. National Bankshares raised Birchcliff Energy from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from C$6.00 to C$8.00 in a report on Thursday, January 30th. Finally, Canaccord Genuity Group lowered their price target on shares of Birchcliff Energy from C$6.00 to C$5.75 in a research report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$7.04.

Birchcliff Energy Stock Up 7.4 %

Birchcliff Energy stock traded up C$0.39 during midday trading on Thursday, hitting C$5.69. 2,484,275 shares of the stock were exchanged, compared to its average volume of 1,270,247. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 27.63. The stock has a market capitalization 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 has a 52-week low of C$4.53 and a 52-week high of C$6.54. The business’s 50-day moving average price is C$5.71 and its 200-day moving average price is C$5.52.

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.