Birchcliff Energy (TSE:BIR) Shares Down 4% – Here’s What Happened

Birchcliff Energy Ltd. (TSE:BIR) fell 4% during trading on Thursday . The stock traded as low as C$5.54 and last traded at C$5.56. 248,454 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 793,462 shares. The stock had previously closed at C$5.79.

Wall Street Analyst Weigh In

Several research firms have issued reports on BIR. Cormark upgraded shares of Birchcliff Energy to a “strong-buy” rating in a research note on Monday, September 23rd. Canaccord Genuity Group decreased their price target on shares of Birchcliff Energy from C$6.00 to C$5.75 in a research report on Friday, November 15th. National Bankshares cut their price objective on Birchcliff Energy from C$6.50 to C$6.00 in a research report on Friday, September 27th. TD Securities reduced their price objective on Birchcliff Energy from C$5.50 to C$5.00 in a research note on Tuesday, October 1st. Finally, Scotiabank lowered their target price on Birchcliff Energy from C$7.50 to C$7.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$6.45.

Birchcliff Energy Stock Down 3.3 %

The stock has a 50-day simple moving average of C$5.22 and a 200-day simple moving average of C$5.61. The company has a market cap of C$1.51 billion, a price-to-earnings ratio of 35.00, a price-to-earnings-growth ratio of 0.35 and a beta of 1.93. The company has a current ratio of 1.52, a quick ratio of 0.97 and a debt-to-equity ratio of 22.26.

Birchcliff Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were issued a $0.10 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.40 annualized dividend and a dividend yield of 7.14%. Birchcliff Energy’s dividend payout ratio (DPR) is 250.00%.

Insider Buying and Selling

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

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.