Birchcliff Energy (TSE:BIR) Rating Increased to Outperform at Raymond James Financial

Key Points

• Birchcliff Energy's stock rating was upgraded by Raymond James Financial from "market perform" to "outperform," with a new price target of C$8.00, suggesting a potential upside of 27.80% from the previous close.
• Other analysts, including National Bankshares and Royal Bank of Canada, also issued optimistic ratings, with National Bankshares increasing their target price to C$8.50.
• Insider selling occurred recently, with senior officer Robyn Bourgeois and director Aaron Jeffery Tonken selling a combined total of 146,800 shares worth over $1 million in the last quarter.

Birchcliff Energy (TSE:BIR - Get Free Report) was upgraded by research analysts at Raymond James Financial from a "market perform" rating to an "outperform" rating in a report issued on Thursday, MarketBeat.com reports. The firm presently has a C$8.00 price objective on the oil and natural gas company's stock, up from their prior price objective of C$7.50. Raymond James Financial's target price indicates a potential upside of 28.21% from the company's current price.

A number of other equities analysts have also commented on BIR. National Bankshares raised their price target on shares of Birchcliff Energy from C$8.00 to C$8.50 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. 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. Six investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of C$7.41.

Birchcliff Energy Price Performance

TSE:BIR opened at C$6.24 on Thursday. Birchcliff Energy has a one year low of C$4.53 and a one year high of C$7.86. The company has a market cap of C$1.69 billion, a P/E ratio of 109.30, a P/E/G ratio of 0.35 and a beta of 1.93. The firm's fifty day moving average price is C$6.96 and its two-hundred day moving average price is C$6.36. The company has a debt-to-equity ratio of 27.63, a current ratio of 1.01 and a quick ratio of 0.97.

Insider Transactions at Birchcliff Energy

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