Birchcliff Energy (TSE:BIR) Price Target Raised to C$8.00

Birchcliff Energy (TSE:BIR - Get Free Report) had its price objective boosted by investment analysts at Royal Bank Of Canada from C$7.00 to C$8.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm presently has an "outperform" rating on the oil and natural gas company's stock. Royal Bank Of Canada's price target points to a potential upside of 7.10% from the company's current price.

Several other equities analysts have also recently issued reports on the company. Canaccord Genuity Group upgraded Birchcliff Energy from a "hold" rating to a "buy" rating and lifted their price objective for the company from C$6.00 to C$7.00 in a research note on Thursday, March 13th. Raymond James Financial set a C$7.50 price target on shares of Birchcliff Energy and gave the stock a "market perform" rating in a research note on Tuesday, April 8th. National Bankshares increased their price objective on shares of Birchcliff Energy from C$8.00 to C$8.50 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Cibc World Mkts raised shares of Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 13th. Finally, Cormark raised Birchcliff Energy to a "strong-buy" rating in a report on Thursday, March 13th. Six equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Birchcliff Energy currently has a consensus rating of "Buy" and a consensus price target of C$7.25.

Birchcliff Energy Stock Up 0.3%

BIR stock traded up C$0.02 during midday trading on Monday, hitting C$7.47. The company's stock had a trading volume of 710,998 shares, compared to its average volume of 1,235,837. The firm has a 50-day simple moving average of C$6.67 and a 200-day simple moving average of C$6.06. The firm has a market capitalization of C$2.03 billion, a P/E ratio of 130.84, 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 1.01 and a debt-to-equity ratio of 27.63. Birchcliff Energy has a 52-week low of C$4.53 and a 52-week high of C$7.86.

Insider Buying and Selling at Birchcliff Energy

In related news, Director Aaron Jeffery Tonken sold 119,700 shares of the company's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of C$7.39, for a total value of C$884,583.00. Also, Senior Officer Robyn Bourgeois sold 26,800 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of C$7.04, for a total value of C$188,672.00. Insiders sold 147,100 shares of company stock valued at $1,077,277 in the last 90 days. 1.55% of the stock is currently owned by insiders.

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.