Insider Buying: Birchcliff Energy (TSE:BIR) Director Acquires 15,000 Shares of Stock

Key Points

• Cameron Maclean Proctor, a director at Birchcliff Energy, purchased 15,000 shares at an average cost of C$6.05, increasing his total holdings to 152,500 shares.
• Birchcliff Energy declared a quarterly dividend of $0.03 per share, with the ex-dividend date set for September 15th.
• Recent analyst reports have upgraded Birchcliff Energy's rating, with some targeting a price increase to C$8.50, reflecting a consensus “Buy” rating among analysts.

Birchcliff Energy Ltd. (TSE:BIR - Get Free Report) Director Cameron Maclean Proctor purchased 15,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of C$6.05 per share, for a total transaction of C$90,750.00. Following the completion of the acquisition, the director directly owned 152,500 shares of the company's stock, valued at C$922,625. This represents a 10.91% increase in their position.

Birchcliff Energy Stock Performance

BIR opened at C$6.04 on Friday. 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 cap of C$1.65 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 0.35 and a beta of 0.39. Birchcliff Energy Ltd. has a 52-week low of C$4.53 and a 52-week high of C$7.86. The firm's fifty day simple moving average is C$6.50 and its two-hundred day simple moving average is C$6.42.

Birchcliff Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 29th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, September 15th. Birchcliff Energy's dividend payout ratio (DPR) is presently 92.86%.

Analyst Ratings Changes

BIR has been the topic of several recent analyst reports. Atb Cap Markets raised shares of Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Raymond James Financial raised shares of Birchcliff Energy from a "hold" rating to a "moderate buy" rating and increased their price objective for the company from C$7.50 to C$8.00 in a report on Thursday, August 14th. National Bankshares increased their price objective on shares of Birchcliff Energy from C$8.00 to C$8.50 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Finally, Royal Bank Of Canada increased their price objective on shares of Birchcliff Energy from C$7.00 to C$8.00 and gave the company an "outperform" rating in a report on Monday, June 30th. Four analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of C$7.41.

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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