Birchcliff Energy (TSE:BIR) Downgraded by Cibc Captl Mkts to “Hold”

Birchcliff Energy (TSE:BIR) was downgraded by stock analysts at Cibc Captl Mkts from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other brokerages have also issued reports on BIR. BMO Capital Markets upgraded Birchcliff Energy from a “hold” rating to an “outperform” rating and increased their target price for the company from C$7.50 to C$8.50 in a research report on Monday, December 15th. Haywood Securities boosted their target price on shares of Birchcliff Energy from C$8.00 to C$10.00 in a research note on Monday, December 22nd. National Bankshares decreased their price target on shares of Birchcliff Energy from C$9.25 to C$9.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. Scotiabank lowered their price objective on Birchcliff Energy from C$10.00 to C$9.00 in a report on Thursday, October 9th. Finally, CIBC downgraded Birchcliff Energy from an “outperform” rating to a “neutral” rating and decreased their target price for the company from C$9.50 to C$8.50 in a research report on Tuesday. Four equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$8.33.

Birchcliff Energy Stock Performance

TSE BIR opened at C$7.09 on Tuesday. The stock has a market capitalization of C$1.94 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 0.35 and a beta of -0.08. The stock has a 50-day moving average of C$7.32 and a 200 day moving average of C$6.70. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 27.63. 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.