Birchcliff Energy (TSE:BIR) Stock Price Down 4% – Here’s What Happened

Birchcliff Energy Ltd. (TSE:BIR)’s stock price dropped 4% during mid-day trading on Thursday . The company traded as low as C$5.54 and last traded at C$5.56. Approximately 248,454 shares changed hands during trading, a decline of 69% from the average daily volume of 793,462 shares. The stock had previously closed at C$5.79.

Analysts Set New Price Targets

A number of analysts recently issued reports on BIR shares. TD Securities dropped their price objective on Birchcliff Energy from C$5.50 to C$5.00 in a report on Tuesday, October 1st. CIBC increased their price target on shares of Birchcliff Energy from C$5.75 to C$6.00 in a report on Friday. Cormark raised shares of Birchcliff Energy to a “strong-buy” rating in a research note on Monday, September 23rd. Canaccord Genuity Group lowered their target price on shares of Birchcliff Energy from C$6.00 to C$5.75 in a research note on Friday, November 15th. Finally, Scotiabank upgraded shares of Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research report on Friday. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$6.48.

Birchcliff Energy Stock Performance

The company has a debt-to-equity ratio of 22.26, a current ratio of 1.52 and a quick ratio of 0.97. The stock has a market cap of C$1.56 billion, a PE ratio of 36.19, a price-to-earnings-growth ratio of 0.35 and a beta of 1.93. The business has a 50 day moving average price of C$5.25 and a two-hundred day moving average price of C$5.61.

Birchcliff Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 6.91%. The ex-dividend date was Friday, December 13th. Birchcliff Energy’s dividend payout ratio (DPR) is presently 250.00%.

Insider Activity

In other Birchcliff Energy news, Director Aaron Jeffery Tonken sold 200,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of C$5.53, for a total value of C$1,106,000.00. Also, Senior Officer Hue Tran sold 31,400 shares of Birchcliff Energy stock in a transaction dated Friday, December 6th. The shares were sold at an average price of C$5.02, for a total transaction of C$157,628.00. Over the last ninety days, insiders sold 260,000 shares of company stock valued at $1,409,488. 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.