CIBC Issues Positive Forecast for Birchcliff Energy (TSE:BIR) Stock Price

Birchcliff Energy (TSE:BIR) had its price objective hoisted by CIBC from C$5.75 to C$6.00 in a research report report published on Friday morning,BayStreet.CA reports.

A number of other research firms have also recently commented on BIR. Scotiabank upgraded Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research report on Friday. Canaccord Genuity Group cut their price objective on shares of Birchcliff Energy from C$6.00 to C$5.75 in a research report on Friday, November 15th. Cormark raised Birchcliff Energy to a “strong-buy” rating in a report on Monday, September 23rd. TD Securities cut their price target on Birchcliff Energy from C$5.50 to C$5.00 in a report on Tuesday, October 1st. Finally, National Bankshares decreased their price objective on Birchcliff Energy from C$6.50 to C$6.00 in a research note on Friday, September 27th. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Birchcliff Energy has a consensus rating of “Moderate Buy” and an average target price of C$6.48.

Birchcliff Energy Trading Up 3.4 %

Shares of TSE BIR opened at C$5.79 on Friday. The firm’s 50 day moving average price is C$5.25 and its 200-day moving average price is C$5.61. The company has a debt-to-equity ratio of 22.26, a quick ratio of 0.97 and a current ratio of 1.52. Birchcliff Energy has a 52-week low of C$4.53 and a 52-week high of C$6.54. The company has a market cap of C$1.56 billion, a PE ratio of 36.19, a P/E/G ratio of 0.35 and a beta of 1.93.

Birchcliff Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 6.91%. The ex-dividend date was Friday, December 13th. Birchcliff Energy’s dividend payout ratio is 250.00%.

Insider Activity at Birchcliff Energy

In related news, Senior Officer Hue Tran sold 28,600 shares of Birchcliff Energy stock in a transaction dated Monday, December 9th. The shares were sold at an average price of C$5.10, for a total transaction of C$145,860.00. Also, Director Aaron Jeffery Tonken sold 200,000 shares of the company’s stock in a transaction dated 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. In the last quarter, insiders sold 260,000 shares of company stock valued at $1,409,488. Insiders own 1.55% of the company’s stock.

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.