Birchcliff Energy - BIR Stock Forecast, Price & News

Birchcliff Energy Ltd., an intermediate oil and natural gas company, acquires, explores for, develops, and produces natural gas, light oil, condensate, and natural gas liquids in Western Canada. The company holds interests in the Montney/Doig resource play located approximately 95 km northwest of Grande Prairie, Alberta. Its asset portfolio also includes various other properties, including the Elmworth and Progress areas of Alberta. As of December 31, 2021, the company had interests in various gas plants, oil batteries, compressors, facilities, and infrastructure; and 200,712 net acres of undeveloped land, as well as proved plus probable reserves of 1,022 million barrels of oil equivalent. Birchcliff Energy Ltd. was incorporated in 2004 and is headquartered in Calgary, Canada.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BIR shares. Cormark lifted their price target on Birchcliff Energy from C$16.00 to C$17.00 in a research note on Thursday, August 11th. Raymond James upped their price target on Birchcliff Energy from C$12.50 to C$13.00 and gave the stock an "outperform" rating in a report on Thursday, August 11th. National Bankshares dropped their price objective on Birchcliff Energy from C$15.00 to C$13.50 and set an "outperform" rating on the stock in a research note on Monday, July 18th. Stifel Nicolaus upped their target price on shares of Birchcliff Energy from C$11.25 to C$11.50 in a research note on Friday, August 12th. Finally, Scotiabank raised their price target on shares of Birchcliff Energy from C$13.00 to C$14.00 in a research report on Thursday, July 14th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Birchcliff Energy currently has an average rating of "Moderate Buy" and a consensus target price of C$11.89.

Birchcliff Energy Stock Performance

BIR Stock traded up C$0.37 during mid-day trading on Thursday, hitting C$10.89. The company had a trading volume of 1,282,220 shares, compared to its average volume of 1,996,428. Birchcliff Energy has a 12 month low of C$4.32 and a 12 month high of C$12.48. The stock's fifty day moving average price is C$9.43 and its two-hundred day moving average price is C$8.91. The firm has a market cap of C$2.89 billion and a PE ratio of 4.99. The company has a debt-to-equity ratio of 14.88, a quick ratio of 0.73 and a current ratio of 0.90.

Birchcliff Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 30th were paid a $0.02 dividend. This is an increase from Birchcliff Energy's previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Tuesday, June 14th. This represents a $0.08 annualized dividend and a yield of 0.73%. Birchcliff Energy's dividend payout ratio is presently 2.13%.

Insider Buying and Selling at Birchcliff Energy

In other news, Director Aaron Jeffery Tonken sold 200,000 shares of the company's stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of C$12.29, for a total transaction of C$2,457,000.00. Following the transaction, the director now owns 180,340 shares of the company's stock, valued at approximately C$2,215,476.90. In related news, Director Aaron Jeffery Tonken sold 200,000 shares of Birchcliff Energy stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of C$12.29, for a total value of C$2,457,000.00. Following the completion of the sale, the director now owns 180,340 shares of the company's stock, valued at approximately C$2,215,476.90. Also, Senior Officer Christopher Andrew Carlsen sold 100,000 shares of the business's stock in a transaction dated Monday, June 6th. The shares were sold at an average price of C$12.16, for a total value of C$1,216,250.00. Over the last ninety days, insiders sold 400,000 shares of company stock valued at $4,783,250.