Birchcliff Energy Ltd. (TSE:BIR) Given Average Recommendation of “Buy” by Brokerages

Shares of Birchcliff Energy Ltd. (TSE:BIR) have received a consensus rating of “Buy” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is C$7.04.

BIR has been the subject of a number of recent research reports. Cibc World Mkts upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 13th. CIBC upgraded shares of Birchcliff Energy from a “neutral” rating to an “outperform” rating and upped their target price for the company from C$7.00 to C$8.00 in a research report on Thursday, March 13th. Scotiabank upgraded shares of Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research report on Friday, January 17th. National Bank Financial upgraded shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, National Bankshares set a C$8.00 target price on shares of Birchcliff Energy and gave the stock an “outperform” rating in a report on Thursday, March 13th.

Insider Activity at Birchcliff Energy

In related news, Senior Officer Hue Tran sold 30,000 shares of the business’s 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 value of C$189,000.00. 1.55% of the stock is owned by corporate insiders.

Birchcliff Energy Stock Performance

BIR stock opened at C$5.89 on Tuesday. The company has a 50 day moving average price of C$5.90 and a 200 day moving average price of C$5.57. Birchcliff Energy has a fifty-two week low of C$4.53 and a fifty-two week high of C$6.95. The company has a debt-to-equity ratio of 27.63, a current ratio of 1.01 and a quick ratio of 0.97. The stock has a market capitalization of C$1.60 billion, a PE ratio of 103.17, a price-to-earnings-growth ratio of 0.35 and a beta of 1.93.

Birchcliff Energy Cuts Dividend

The company 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 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Friday, March 14th. Birchcliff Energy’s dividend payout ratio (DPR) is 700.63%.

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.