Birchcliff Energy (TSE:BIR) Upgraded at Atb Cap Markets

Key Points

• Birchcliff Energy has seen its stock rating upgraded from "hold" to "strong-buy" by Atb Cap Markets, indicating increasing confidence among analysts.
• Other analysts, such as National Bankshares and Royal Bank of Canada, have also raised their price targets for Birchcliff Energy shares, reflecting a generally positive outlook for the company.
• Despite insider selling activity, Birchcliff Energy maintains a consensus rating of "Buy" with a price target of C$7.41, showcasing investor interest in the stock.

Birchcliff Energy (TSE:BIR - Get Free Report) was upgraded by investment analysts at Atb Cap Markets from a "hold" rating to a "strong-buy" rating in a report released on Thursday,Zacks.com reports.

A number of other research firms have also commented on BIR. Raymond James Financial raised shares of Birchcliff Energy from a "hold" rating to a "moderate buy" rating and raised their price target for the stock from C$7.50 to C$8.00 in a research report on Thursday, August 14th. Royal Bank Of Canada increased their target price on shares of Birchcliff Energy from C$7.00 to C$8.00 and gave the stock an "outperform" rating in a research report on Monday, June 30th. Finally, National Bankshares raised their target price on shares of Birchcliff Energy from C$8.00 to C$8.50 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Four investment analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of C$7.41.

Birchcliff Energy Stock Performance

Shares of BIR stock traded up C$0.05 during midday trading on Thursday, hitting C$6.07. 456,190 shares of the company were exchanged, compared to its average volume of 1,116,731. Birchcliff Energy has a 52 week low of C$4.53 and a 52 week high of C$7.86. The company has a debt-to-equity ratio of 27.63, a quick ratio of 0.97 and a current ratio of 1.01. The firm has a market capitalization of C$1.65 billion, a P/E ratio of 106.32, a PEG ratio of 0.35 and a beta of 1.93. The firm's 50 day moving average price is C$6.93 and its two-hundred day moving average price is C$6.36.

Insider Buying and Selling at Birchcliff Energy

In related news, Senior Officer Robyn Bourgeois sold 26,800 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of C$7.04, for a total value of C$188,672.00. Also, Director Aaron Jeffery Tonken sold 119,700 shares of Birchcliff Energy stock in a transaction dated Friday, June 13th. The shares were sold at an average price of C$7.39, for a total value of C$884,583.00. In the last quarter, insiders sold 146,800 shares of company stock worth $1,075,465. Corporate 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.