CIBC Forecasts Strong Price Appreciation for Birchcliff Energy (TSE:BIR) Stock

Birchcliff Energy (TSE:BIR) had its price objective upped by analysts at CIBC from C$5.75 to C$6.00 in a research note issued to investors on Friday,BayStreet.CA reports. CIBC’s price target points to a potential upside of 4.35% from the stock’s current price.

Several other equities analysts have also weighed in on BIR. TD Securities cut their target price on Birchcliff Energy from C$5.50 to C$5.00 in a report on Tuesday, October 1st. National Bankshares cut their target price on Birchcliff Energy from C$6.50 to C$6.00 in a report on Friday, September 27th. Scotiabank raised Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research report on Friday. Canaccord Genuity Group lowered their price target on Birchcliff Energy from C$6.00 to C$5.75 in a research report on Friday, November 15th. Finally, Cormark raised Birchcliff Energy to a “strong-buy” rating in a research report on Monday, September 23rd. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$6.48.

Birchcliff Energy Stock Up 2.7 %

TSE BIR traded up C$0.15 during trading on Friday, hitting C$5.75. 574,263 shares of the company traded hands, compared to its average volume of 882,819. Birchcliff Energy has a 12 month low of C$4.53 and a 12 month high of C$6.54. The business has a fifty day simple moving average of C$5.23 and a 200 day simple moving average of C$5.61. The company has a current ratio of 1.52, a quick ratio of 0.97 and a debt-to-equity ratio of 22.26. The company has a market capitalization of C$1.55 billion, a P/E ratio of 35.94, a PEG ratio of 0.35 and a beta of 1.93.

Insider Buying and Selling at Birchcliff Energy

In related news, Director Aaron Jeffery Tonken sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of C$5.53, for a total value of C$1,106,000.00. Also, Senior Officer Hue Tran sold 28,600 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of C$5.10, for a total transaction of C$145,860.00. Over the last ninety days, insiders have sold 260,000 shares of company stock valued at $1,409,488. 1.55% of the stock is currently 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.