Birchcliff Energy Ltd. (TSE:BIR) Given Average Recommendation of “Buy” by Analysts

Birchcliff Energy Ltd. (TSE:BIR) has been given an average rating of “Buy” by the nine brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is C$7.04.

BIR has been the subject of a number of analyst reports. National Bankshares set a C$8.00 price objective on Birchcliff Energy and gave the company an “outperform” rating in a research note on Thursday, March 13th. CIBC raised shares of Birchcliff Energy from a “neutral” rating to an “outperform” rating and upped their price objective for the company from C$7.00 to C$8.00 in a research note on Thursday, March 13th. Cibc World Mkts upgraded shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 13th. TD Securities raised Birchcliff Energy from a “hold” rating to a “buy” rating and upped their price target for the company from C$5.50 to C$7.00 in a research report on Thursday, January 30th. Finally, National Bank Financial upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd.

Insider Activity at Birchcliff Energy

In related news, Senior Officer Hue Tran sold 30,000 shares of Birchcliff Energy stock in a transaction dated Friday, March 21st. The stock was sold at an average price of C$6.30, for a total value of C$189,000.00. 1.55% of the stock is owned by insiders.

Birchcliff Energy Price Performance

Shares of TSE BIR opened at C$6.68 on Tuesday. The stock’s 50-day simple moving average is C$5.85 and its two-hundred day simple moving average is C$5.54. Birchcliff Energy has a twelve month low of C$4.53 and a twelve month high of C$6.83. The firm has a market capitalization of C$1.81 billion, a P/E ratio of 117.01, a P/E/G ratio of 0.35 and a beta of 1.93. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 27.63.

Birchcliff Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were paid a $0.03 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.12 annualized dividend and a dividend yield of 1.80%. Birchcliff Energy’s dividend payout ratio is presently 700.63%.

Birchcliff Energy Company Profile

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.