Birchcliff Energy (TSE:BIR) Cut to “Neutral” at CIBC

Birchcliff Energy (TSE:BIR) was downgraded by research analysts at CIBC from an “outperform” rating to a “neutral” rating in a note issued to investors on Tuesday,BayStreet.CA reports. They currently have a C$8.50 target price on the oil and natural gas company’s stock, down from their prior target price of C$9.50. CIBC’s price target would indicate a potential upside of 20.06% from the company’s current price.

Several other research firms have also recently issued reports on BIR. National Bankshares decreased their target price on shares of Birchcliff Energy from C$9.25 to C$9.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 22nd. BMO Capital Markets raised shares of Birchcliff Energy from a “hold” rating to an “outperform” rating and increased their price target for the stock from C$7.50 to C$8.50 in a research note on Monday, December 15th. Scotiabank lowered their price objective on shares of Birchcliff Energy from C$10.00 to C$9.00 in a research note on Thursday, October 9th. Finally, Haywood Securities upped their price objective on Birchcliff Energy from C$8.00 to C$10.00 in a report on Monday, December 22nd. Four analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$8.33.

Birchcliff Energy Trading Down 1.9%

TSE:BIR traded down C$0.14 during mid-day trading on Tuesday, reaching C$7.08. The company’s stock had a trading volume of 808,283 shares, compared to its average volume of 768,130. 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 stock has a market cap of C$1.94 billion, a P/E ratio of 26.22, a P/E/G ratio of 0.35 and a beta of -0.08. The company’s fifty day simple moving average is C$7.31 and its two-hundred day simple moving average is C$6.70. Birchcliff Energy has a twelve month low of C$4.89 and a twelve month high of C$8.19.

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. To get the full value out of its natural gas wells, several gas plants are completely owned and operated for gas processing purposes.