Birchcliff Energy Ltd. (TSE:BIR) Receives C$7.34 Consensus PT from Brokerages

Key Points

• Birchcliff Energy Ltd. has received an average recommendation of "Buy" from nine research firms, with six analysts rating it as a buy and three as a strong buy.
• The company's recent dividend of $0.03 per share results in an annualized dividend yield of 1.8%, but it has a high payout ratio of 700.63%.
• Insider trading activity has seen significant sales, with a total of 146,800 shares sold by insiders worth over $1 million in the last three months.

Shares of Birchcliff Energy Ltd. (TSE:BIR - Get Free Report) have received a consensus rating of "Buy" from the nine research firms that are covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is C$7.34.

Several research analysts have commented on BIR shares. National Bankshares raised their target price on Birchcliff Energy from C$8.00 to C$8.50 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Royal Bank Of Canada lifted their price target on shares of Birchcliff Energy from C$7.00 to C$8.00 and gave the stock an "outperform" rating in a research note on Monday, June 30th.

Insider Activity at Birchcliff Energy

In other news, Senior Officer Robyn Bourgeois sold 26,800 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of C$7.04, for a total transaction of C$188,672.00. Also, Director Aaron Jeffery Tonken sold 119,700 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of C$7.39, for a total value of C$884,583.00. Insiders have sold 146,800 shares of company stock worth $1,075,465 over the last three months. Insiders own 1.55% of the company's stock.

Birchcliff Energy Stock Performance

TSE:BIR traded up C$0.15 on Monday, reaching C$6.49. 638,686 shares of the company's stock were exchanged, compared to its average volume of 1,142,644. Birchcliff Energy has a 52 week low of C$4.53 and a 52 week high of C$7.86. The stock has a fifty day simple moving average of C$7.02 and a 200-day simple moving average of C$6.34. The company has a debt-to-equity ratio of 27.63, a current ratio of 1.01 and a quick ratio of 0.97. The firm has a market cap of C$1.76 billion, a price-to-earnings ratio of 113.68, a P/E/G ratio of 0.35 and a beta of 1.93.

Birchcliff Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 30th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.12 annualized dividend and a dividend yield of 1.8%. Birchcliff Energy's payout ratio is 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.