Birchcliff Energy (TSE:BIR) Hits New 12-Month High – Here’s Why

by · The Markets Daily

Birchcliff Energy Ltd. (TSE:BIR – Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as C$6.84 and last traded at C$6.82, with a volume of 1450725 shares trading hands. The stock had previously closed at C$6.68.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BIR. National Bank Financial upgraded shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. National Bankshares set a C$8.00 price target on shares of Birchcliff Energy and gave the stock an “outperform” rating in a research note on Thursday, March 13th. Canaccord Genuity Group raised shares of Birchcliff Energy from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$6.00 to C$7.00 in a research note on Thursday, March 13th. Cibc World Mkts upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 13th. Finally, Scotiabank upgraded Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a report on Friday, January 17th. One research analyst has rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$7.04.

View Our Latest Stock Analysis on BIR

Birchcliff Energy Trading Down 4.4 %

The firm has a fifty day moving average of C$5.90 and a 200 day moving average of C$5.56. The firm has a market capitalization of C$1.78 billion, a PE ratio of 115.25, a P/E/G ratio of 0.35 and a beta of 1.93. The company has a debt-to-equity ratio of 27.63, a quick ratio of 0.97 and a current ratio of 1.01.

Birchcliff Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were issued a $0.03 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.12 dividend on an annualized basis and a yield of 1.82%. Birchcliff Energy’s dividend payout ratio is currently 700.63%.

Insider Buying and Selling at Birchcliff Energy

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

About Birchcliff Energy

(Get Free Report)

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.

Read More