Birchcliff Energy Ltd. (TSE:BIR) Receives C$7.91 Average Target Price from Analysts

Birchcliff Energy Ltd. (TSE:BIR) has received a consensus rating of “Buy” from the ten research firms that are currently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating and four have issued a strong buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$8.21.

Several brokerages recently issued reports on BIR. Scotiabank reduced their target price on shares of Birchcliff Energy from C$10.00 to C$9.00 in a report on Thursday, October 9th. Atb Cap Markets upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. CIBC upped their target price on Birchcliff Energy from C$8.50 to C$9.50 in a report on Wednesday, October 15th. National Bankshares reduced their target price on Birchcliff Energy from C$9.25 to C$9.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 22nd. Finally, Raymond James Financial raised Birchcliff Energy from a “hold” rating to a “moderate buy” rating and increased their target price for the stock from C$7.50 to C$8.00 in a research note on Thursday, August 14th.

Insider Buying and Selling

In other news, Director Cameron Maclean Proctor bought 15,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average price of C$6.05 per share, with a total value of C$90,750.00. Following the completion of the acquisition, the director directly owned 152,500 shares in the company, valued at approximately C$922,625. The trade was a 10.91% increase in their ownership of the stock. 1.55% of the stock is currently owned by corporate insiders.

Birchcliff Energy Trading Up 0.1%

BIR opened at C$6.96 on Wednesday. The stock has a fifty day moving average price of C$6.19 and a 200-day moving average price of C$6.50. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 27.63. Birchcliff Energy has a 12 month low of C$4.53 and a 12 month high of C$7.86. The firm has a market cap of C$1.90 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 0.35 and a beta of 0.01.

Birchcliff Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 29th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.12 annualized dividend and a yield of 1.7%. Birchcliff Energy’s payout ratio is 92.86%.

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.