Birchcliff Energy (TSE:BIR) Sets New 1-Year High - Should You Buy?

Birchcliff Energy Ltd. (TSE:BIR - Get Free Report) shares hit a new 52-week high during trading on Thursday . The stock traded as high as C$7.20 and last traded at C$7.16, with a volume of 889530 shares traded. The stock had previously closed at C$6.93.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BIR shares. Canaccord Genuity Group raised shares of Birchcliff Energy from a "hold" rating to a "buy" rating and lifted their target price for the stock from C$6.00 to C$7.00 in a research report on Thursday, March 13th. CIBC upgraded shares of 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 report on Thursday, March 13th. Cibc World Mkts upgraded Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 13th. 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 report on Thursday, May 22nd. Finally, Cormark raised Birchcliff Energy to a "strong-buy" rating in a research report on Thursday, March 13th. Five analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Birchcliff Energy has a consensus rating of "Buy" and an average price target of C$7.16.

Birchcliff Energy Trading Up 2.9%

The firm has a market capitalization of C$2.00 billion, a PE ratio of 129.09, a price-to-earnings-growth ratio of 0.35 and a beta of 1.93. 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 company has a fifty day moving average of C$6.23 and a 200-day moving average of C$5.84.

Birchcliff Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 30th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Friday, June 13th. Birchcliff Energy's payout ratio is presently 700.63%.

Insider Buying and Selling at Birchcliff Energy

In related news, Senior Officer Hue Tran sold 30,000 shares of the company's stock in a transaction on Friday, March 21st. The shares were sold at an average price of C$6.30, for a total transaction of C$189,000.00. Also, Senior Officer Robyn Bourgeois sold 26,800 shares of the firm'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. Insiders sold 59,400 shares of company stock worth $394,388 over the last ninety days. 1.55% of the stock is currently owned by insiders.

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.