Birchcliff Energy (TSE:BIR) Rating Increased to Strong-Buy 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 stock analysts at Atb Cap Markets from a "hold" rating to a "strong-buy" rating in a research note issued on Thursday,Zacks.com reports.

BIR has been the topic of several other reports. Raymond James Financial raised Birchcliff Energy from a "market perform" rating to an "outperform" rating and boosted their target price for the company from C$7.50 to C$8.00 in a research note on Thursday, August 14th. Royal Bank Of Canada boosted their target price on Birchcliff Energy from C$7.00 to C$8.00 and gave the company an "outperform" rating in a research note on Monday, June 30th. Finally, National Bankshares boosted their target price on Birchcliff Energy from C$8.00 to C$8.50 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Seven investment analysts have rated the stock with a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of C$7.41.

Birchcliff Energy Trading Down 0.8%

Shares of BIR traded down C$0.05 during mid-day trading on Thursday, hitting C$6.14. 51,633 shares of the company's stock traded hands, compared to its average volume of 1,116,103. 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 1 year low of C$4.53 and a 1 year high of C$7.86. The firm has a market capitalization of C$1.66 billion, a P/E ratio of 107.55, a PEG ratio of 0.35 and a beta of 1.93. The business's 50-day moving average price is C$6.95 and its 200-day moving average price is C$6.37.

Insider Buying and Selling at Birchcliff Energy

In other Birchcliff Energy news, Senior Officer Robyn Bourgeois sold 26,800 shares of the business's stock in a transaction 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. Also, Director Aaron Jeffery Tonken sold 119,700 shares of the business's stock in a transaction on Friday, June 13th. The stock was sold at an average price of C$7.39, for a total value of C$884,583.00. Insiders sold 146,800 shares of company stock worth $1,075,465 over the last three months. 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.