Birchcliff Energy Ltd. (TSE:BIR) Receives C$7.09 Average Target Price from Brokerages

Birchcliff Energy Ltd. (TSE:BIR - Get Free Report) has received a consensus rating of "Buy" from the nine research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is C$7.09.

Several research firms recently issued reports on BIR. TD Securities raised shares of Birchcliff Energy from a "hold" rating to a "buy" rating and lifted their price target for the stock from C$5.50 to C$7.00 in a research note on Thursday, January 30th. Canaccord Genuity Group raised shares of Birchcliff Energy from a "hold" rating to a "buy" rating and boosted their target price for the stock from C$6.00 to C$7.00 in a research report on Thursday, March 13th. CIBC upgraded Birchcliff Energy from a "neutral" rating to an "outperform" rating and upped their price objective for the company from C$7.00 to C$8.00 in a research note on Thursday, March 13th. Cormark raised shares of Birchcliff Energy to a "strong-buy" rating in a report on Thursday, March 13th. Finally, National Bank Financial upgraded shares of Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd.

Birchcliff Energy Trading Up 1.8 %

Shares of TSE BIR traded up C$0.10 during midday trading on Friday, hitting C$5.73. The stock had a trading volume of 83,273 shares, compared to its average volume of 1,375,432. The company has a fifty day moving average price of C$5.91 and a 200 day moving average price of C$5.59. Birchcliff Energy has a 1-year low of C$4.53 and a 1-year high of C$6.95. 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$1.55 billion, a price-to-earnings ratio of 100.37, a PEG ratio of 0.35 and a beta of 1.93.

Birchcliff Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were given a $0.03 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.12 annualized dividend and a dividend yield of 2.09%. Birchcliff Energy's dividend payout ratio (DPR) is presently 700.63%.

Insider Activity

In other news, Senior Officer Hue Tran sold 30,000 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of C$6.30, for a total value of C$189,000.00. Insiders have sold 32,600 shares of company stock worth $205,716 in the last 90 days. Company insiders own 1.55% of the company's stock.

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.