Raymond James Upgrades Birchcliff Energy (TSE:BIR) to “Moderate Buy”

Birchcliff Energy (TSE:BIR) was upgraded by analysts at Raymond James to a “moderate buy” rating in a report issued on Monday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on BIR. TD Securities raised Birchcliff Energy from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$5.50 to C$7.00 in a research note on Thursday, January 30th. National Bank Financial upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Canaccord Genuity Group raised shares of Birchcliff Energy from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$6.00 to C$7.00 in a research note on Thursday, March 13th. Scotiabank raised shares of Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research note on Friday, January 17th. Finally, Cibc World Mkts upgraded shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 13th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$7.09.

Birchcliff Energy Price Performance

Shares of Birchcliff Energy stock opened at C$5.52 on Monday. The firm has a market cap of C$1.50 billion, a PE ratio of 96.69, a PEG ratio of 0.35 and a beta of 1.93. The stock has a 50 day moving average of C$5.88 and a 200 day moving average of C$5.56. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 27.63. Birchcliff Energy has a 12 month low of C$4.53 and a 12 month high of C$6.95.

Insider Transactions at Birchcliff Energy

In other Birchcliff Energy news, Senior Officer Hue Tran sold 30,000 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of C$6.30, for a total transaction of C$189,000.00. Corporate insiders own 1.55% of the company’s stock.

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.