Birchcliff Energy Ltd. (TSE:BIR) Receives Consensus Recommendation of “Buy” from Brokerages

Birchcliff Energy Ltd. (TSE:BIR) has been assigned an average rating of “Buy” from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is C$7.09.

A number of analysts have weighed in on the company. Cibc World Mkts upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 13th. Canaccord Genuity Group upgraded shares of Birchcliff Energy from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$6.00 to C$7.00 in a research note on Thursday, March 13th. CIBC raised Birchcliff Energy from a “neutral” rating to an “outperform” rating and upped their price target for the stock from C$7.00 to C$8.00 in a report on Thursday, March 13th. National Bank Financial raised Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, TD Securities raised shares of Birchcliff Energy from a “hold” rating to a “buy” rating and upped their price objective for the company from C$5.50 to C$7.00 in a report on Thursday, January 30th.

Birchcliff Energy Trading Up 0.2%

TSE BIR opened at C$6.52 on Wednesday. The stock has a market cap of C$1.77 billion, a P/E ratio of 114.20, a P/E/G ratio of 0.35 and a beta of 1.93. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 27.63. The stock’s fifty day moving average price is C$6.13 and its 200-day moving average price is C$5.67. Birchcliff Energy has a 12 month low of C$4.53 and a 12 month high of C$6.95.

Birchcliff Energy Cuts Dividend

The business 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 dividend on an annualized basis and a dividend yield of 1.84%. Birchcliff Energy’s dividend payout ratio (DPR) is currently 700.63%.

Insiders Place Their Bets

In other Birchcliff Energy news, Senior Officer Hue Tran sold 30,000 shares of the firm’s 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 value of C$189,000.00. Insiders have sold 32,600 shares of company stock worth $205,716 in the last quarter. 1.55% of the stock is 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.