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 dated Tuesday, August 19th. The stock was bought at an average cost of C$6.05 per share, with a total value of C$90,750.00. Following the completion of the purchase, the director owned 152,500 shares in the company, valued at C$922,625. The trade was a 10.91% increase in their ownership of the stock.

Birchcliff Energy Trading Down 0.8%

Shares of BIR stock traded down C$0.05 on Friday, reaching C$5.90. The company had a trading volume of 612,578 shares, compared to its average volume of 1,096,430. 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$1.61 billion, a PE ratio of 21.07, a PEG ratio of 0.35 and a beta of 0.39. The company has a 50-day moving average of C$6.43 and a 200-day moving average of C$6.42. Birchcliff Energy Ltd. has a 12 month low of C$4.53 and a 12 month high of C$7.86.

Birchcliff Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 29th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.0%. Birchcliff Energy's dividend payout ratio is 92.86%.

Wall Street Analyst Weigh In

BIR has been the subject of several research analyst reports. Royal Bank Of Canada boosted their price objective on Birchcliff Energy from C$7.00 to C$8.00 and gave the company an "outperform" rating in a research report on Monday, June 30th. National Bankshares boosted their price objective on 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. Atb Cap Markets upgraded Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Finally, Raymond James Financial upgraded Birchcliff Energy from a "hold" rating to a "moderate buy" rating and boosted their price objective for the company from C$7.50 to C$8.00 in a research report on Thursday, August 14th. 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.com, the company currently has a consensus rating of "Buy" and a consensus price target of C$7.41.

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.