Scotiabank Lowers Birchcliff Energy (TSE:BIR) Price Target to C$9.00

Birchcliff Energy (TSE:BIR) had its target price cut by investment analysts at Scotiabank from C$10.00 to C$9.00 in a note issued to investors on Thursday,BayStreet.CA reports. Scotiabank’s target price indicates a potential upside of 55.98% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Raymond James Financial upgraded shares of Birchcliff Energy from a “hold” rating to a “moderate buy” rating and lifted their price target for the stock from C$7.50 to C$8.00 in a research note on Thursday, August 14th. Royal Bank Of Canada lifted their price target on shares of Birchcliff Energy from C$7.00 to C$8.00 and gave the stock an “outperform” rating in a research note on Monday, June 30th. Finally, Atb Cap Markets upgraded shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. Four research analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$7.66.

Birchcliff Energy Price Performance

Shares of TSE:BIR opened at C$5.77 on Thursday. The company’s fifty day moving average price is C$6.11 and its 200 day moving average price is C$6.44. Birchcliff Energy has a 12 month low of C$4.53 and a 12 month high of C$7.86. The company has a debt-to-equity ratio of 27.63, a current ratio of 1.01 and a quick ratio of 0.97. The firm has a market capitalization of C$1.58 billion, a P/E ratio of 20.61, a P/E/G ratio of 0.35 and a beta of 0.14.

Insider Buying and Selling at Birchcliff Energy

In other news, Director Cameron Maclean Proctor bought 15,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average price of C$6.05 per share, with a total value of C$90,750.00. Following the completion of the acquisition, the director directly owned 152,500 shares in the company, valued at approximately C$922,625. The trade was a 10.91% increase in their ownership of the stock. 1.55% of the stock is currently owned by 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.