Raymond James Financial Upgrades Birchcliff Energy (TSE:BIR) to "Moderate Buy"

Key Points

• Birchcliff Energy's stock rating was upgraded by Raymond James Financial from "market perform" to "outperform," with a new price target of C$8.00, suggesting a potential upside of 27.80% from the previous close.
• Other analysts, including National Bankshares and Royal Bank of Canada, also issued optimistic ratings, with National Bankshares increasing their target price to C$8.50.
• Insider selling occurred recently, with senior officer Robyn Bourgeois and director Aaron Jeffery Tonken selling a combined total of 146,800 shares worth over $1 million in the last quarter.

Raymond James Financial upgraded shares of Birchcliff Energy (TSE:BIR - Free Report) from a hold rating to a moderate buy rating in a research report sent to investors on Thursday, MarketBeat reports. They currently have C$8.00 price target on the oil and natural gas company's stock, up from their previous price target of C$7.50.

A number of other equities research analysts have also issued reports on BIR. National Bankshares upped their target price on Birchcliff Energy from C$8.00 to C$8.50 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Royal Bank Of Canada upped their target price on 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. Four investment analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of C$7.41.

Birchcliff Energy Price Performance

Shares of TSE:BIR traded down C$0.17 during trading on Thursday, hitting C$6.02. 773,340 shares of the stock were exchanged, compared to its average volume of 1,120,885. The company has a fifty day moving average price of C$6.93 and a two-hundred day moving average price of C$6.36. The company has a market cap of C$1.63 billion, a PE ratio of 105.45, a P/E/G ratio of 0.35 and a beta of 1.93. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 27.63. Birchcliff Energy has a 12-month low of C$4.53 and a 12-month high of C$7.86.

Birchcliff Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Friday, June 13th. Birchcliff Energy's dividend payout ratio is presently 700.63%.

Insider Transactions at Birchcliff Energy

In other news, Director Aaron Jeffery Tonken sold 119,700 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of C$7.39, for a total transaction of C$884,583.00. Also, Senior Officer Robyn Bourgeois sold 26,800 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of C$7.04, for a total transaction of C$188,672.00. Over the last three months, insiders sold 146,800 shares of company stock valued at $1,075,465. 1.55% of the stock is currently owned by corporate 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.