Birchcliff Energy Ltd. (TSE:BIR) Receives C$7.04 Average Price Target from Analysts

Birchcliff Energy Ltd. (TSE:BIR) has been assigned a consensus rating of “Buy” from the nine ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is C$7.04.

BIR has been the topic of several recent research reports. Canaccord Genuity Group upgraded Birchcliff Energy from a “hold” rating to a “buy” rating and increased their target price for the stock from C$6.00 to C$7.00 in a research report on Thursday, March 13th. Scotiabank upgraded Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research note on Friday, January 17th. Cormark upgraded Birchcliff Energy to a “strong-buy” rating in a research report on Thursday, March 13th. National Bank Financial upgraded shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, CIBC raised shares of Birchcliff Energy from a “neutral” rating to an “outperform” rating and upped their target price for the stock from C$7.00 to C$8.00 in a report on Thursday, March 13th.

Birchcliff Energy Price Performance

BIR opened at C$6.02 on Tuesday. Birchcliff Energy has a fifty-two week low of C$4.53 and a fifty-two week high of C$6.95. The firm has a 50-day moving average of C$5.90 and a 200 day moving average of C$5.56. The company has a debt-to-equity ratio of 27.63, a quick ratio of 0.97 and a current ratio of 1.01. The firm has a market cap of C$1.63 billion, a P/E ratio of 105.45, a PEG ratio of 0.35 and a beta of 1.93.

Birchcliff Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Friday, March 14th. Birchcliff Energy’s payout ratio is 700.63%.

Insider Activity

In other Birchcliff Energy news, Senior Officer Hue Tran sold 30,000 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of C$6.30, for a total transaction of C$189,000.00. Corporate insiders own 1.55% of the company’s stock.

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.