Birchcliff Energy (TSE:BIR) Price Target Raised to C$6.00 at CIBC

Birchcliff Energy (TSE:BIR) had its price objective raised by CIBC from C$5.75 to C$6.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 3.63% from the company’s previous close.

BIR has been the topic of a number of other reports. Canaccord Genuity Group cut their price objective on shares of Birchcliff Energy from C$6.00 to C$5.75 in a research note on Friday, November 15th. National Bankshares dropped their price target on shares of Birchcliff Energy from C$6.50 to C$6.00 in a research report on Friday, September 27th. Cormark upgraded shares of Birchcliff Energy to a “strong-buy” rating in a research report on Monday, September 23rd. TD Securities dropped their price target on shares of Birchcliff Energy from C$5.50 to C$5.00 in a research report on Tuesday, October 1st. Finally, Scotiabank upgraded shares of Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$6.59.

Birchcliff Energy Price Performance

Shares of TSE BIR opened at C$5.79 on Friday. Birchcliff Energy has a fifty-two week low of C$4.53 and a fifty-two week high of C$6.54. The firm’s 50-day simple moving average is C$5.25 and its 200 day simple moving average is C$5.61. The company has a quick ratio of 0.97, a current ratio of 1.52 and a debt-to-equity ratio of 22.26. The stock has a market cap of C$1.56 billion, a P/E ratio of 36.19, a P/E/G ratio of 0.35 and a beta of 1.93.

Insider Buying and Selling

In other Birchcliff Energy news, Director Aaron Jeffery Tonken sold 200,000 shares of Birchcliff Energy stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of C$5.53, for a total transaction of C$1,106,000.00. Also, Senior Officer Hue Tran sold 28,600 shares of Birchcliff Energy stock in a transaction dated Monday, December 9th. The shares were sold at an average price of C$5.10, for a total value of C$145,860.00. In the last quarter, insiders have sold 260,000 shares of company stock valued at $1,409,488. 1.55% of the stock is owned by corporate 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.