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

Key Points

• Birchcliff Energy Ltd. has received a consensus rating of "Buy" from ten brokerages, with six giving it a buy rating and four a strong buy rating, leading to an average target price of C$7.41.
• Analyst upgrades include Raymond James raising their rating to "moderate buy" with a price target of C$8.00, indicating confidence in the company's performance.
• The company declared a quarterly dividend of $0.03 per share, which equates to an annualized dividend yield of 2.0%.

Birchcliff Energy Ltd. (TSE:BIR - Get Free Report) has been assigned a consensus rating of "Buy" from the ten brokerages that are covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is C$7.41.

A number of analysts have issued reports on BIR shares. Raymond James Financial raised shares of Birchcliff Energy from a "hold" rating to a "moderate buy" rating and boosted their price objective for the company from C$7.50 to C$8.00 in a report on Thursday, August 14th. Royal Bank Of Canada increased their price objective on shares of Birchcliff Energy from C$7.00 to C$8.00 and gave the company an "outperform" rating in a research note on Monday, June 30th. Finally, Atb Cap Markets raised shares of Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th.

Insider Activity

In other Birchcliff Energy news, Director Cameron Maclean Proctor purchased 15,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average price of C$6.05 per share, with a total value of C$90,750.00. Following the completion of the purchase, the director owned 152,500 shares of the company's stock, valued at approximately C$922,625. The trade was a 10.91% increase in their ownership of the stock. Insiders own 1.55% of the company's stock.

Birchcliff Energy Stock Performance

TSE BIR opened at C$5.90 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 27.63. The company has a market capitalization of C$1.61 billion, a P/E ratio of 21.07, a P/E/G ratio of 0.35 and a beta of 0.39. Birchcliff Energy has a 12-month low of C$4.53 and a 12-month high of C$7.86. The firm has a 50-day moving average price of C$6.38 and a two-hundred day moving average price of C$6.45.

Birchcliff Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 29th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.12 annualized dividend and a dividend yield of 2.0%. Birchcliff Energy's dividend payout ratio (DPR) is presently 92.86%.

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.

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