Birchcliff Energy Ltd. (TSE:BIR) Receives Average Recommendation of "Buy" from Brokerages

Shares of Birchcliff Energy Ltd. (TSE:BIR - Get Free Report) have been assigned an average recommendation of "Buy" from the eight research firms that are currently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is C$7.16.

BIR has been the topic of a number of recent research reports. Raymond James set a C$7.50 price target on shares of Birchcliff Energy and gave the stock a "market perform" rating in a report on Tuesday, April 8th. Canaccord Genuity Group upgraded Birchcliff Energy from a "hold" rating to a "buy" rating and upped their price target for the company from C$6.00 to C$7.00 in a research report on Thursday, March 13th. Cormark raised Birchcliff Energy to a "strong-buy" rating in a research note on Thursday, March 13th. CIBC raised Birchcliff Energy from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from C$7.00 to C$8.00 in a research note on Thursday, March 13th. Finally, National Bankshares increased their target price on shares of Birchcliff Energy from C$8.00 to C$8.50 and gave the company an "outperform" rating in a research report on Thursday, May 22nd.

Insiders Place Their Bets

In related news, Senior Officer Hue Tran sold 30,000 shares of the company's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of C$6.30, for a total value of C$189,000.00. Also, 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 value of C$188,672.00. Insiders have sold a total of 59,400 shares of company stock valued at $394,388 in the last 90 days. 1.55% of the stock is currently owned by corporate insiders.

Birchcliff Energy Stock Performance

TSE:BIR opened at C$7.41 on Friday. The stock's 50-day moving average is C$6.30 and its 200-day moving average is C$5.87. Birchcliff Energy has a 1-year low of C$4.53 and a 1-year high of C$7.52. 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 has a market cap of C$2.01 billion, a P/E ratio of 129.79, a price-to-earnings-growth ratio of 0.35 and a beta of 1.93.

Birchcliff Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 30th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Friday, June 13th. Birchcliff Energy's dividend payout ratio (DPR) is presently 700.63%.

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.

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