Birchcliff Energy Ltd. (TSE:BIR) Receives C$6.82 Consensus Target Price from Brokerages

Birchcliff Energy Ltd. (TSE:BIR) has been assigned an average recommendation of “Buy” from the six analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is C$6.71.

Several analysts have recently weighed in on the company. Canaccord Genuity Group reduced their price target on Birchcliff Energy from C$6.00 to C$5.75 in a report on Friday, November 15th. CIBC boosted their price target on Birchcliff Energy from C$5.75 to C$6.00 in a report on Friday, January 17th. National Bankshares upgraded Birchcliff Energy from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from C$6.00 to C$8.00 in a report on Thursday, January 30th. TD Securities upgraded Birchcliff Energy from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$5.50 to C$7.00 in a report on Thursday, January 30th. Finally, Scotiabank upgraded Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a report on Friday, January 17th.

Insider Activity at Birchcliff Energy

In other Birchcliff Energy news, Director Aaron Jeffery Tonken sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was 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 the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of C$5.02, for a total value of C$157,628.00. Insiders have sold 260,000 shares of company stock worth $1,409,488 over the last ninety days. Insiders own 1.55% of the company’s stock.

Birchcliff Energy Stock Performance

TSE:BIR opened at C$5.79 on Monday. The stock has a market cap of C$1.57 billion, a P/E ratio of 101.42, a price-to-earnings-growth 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 50-day moving average is C$5.51 and its 200-day moving average is C$5.57. Birchcliff Energy has a 1-year low of C$4.53 and a 1-year high of C$6.54.

Birchcliff Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 6.91%. The ex-dividend date of this dividend was Friday, December 13th. Birchcliff Energy’s payout ratio is presently 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.