Birchcliff Energy (TSE:BIR) Upgraded by TD Securities to “Buy” Rating

TD Securities upgraded shares of Birchcliff Energy (TSE:BIR) from a hold rating to a buy rating in a report issued on Thursday morning,BayStreet.CA reports. They currently have C$7.00 price objective on the oil and natural gas company’s stock, up from their previous price objective of C$5.50.

Several other research analysts have also commented on BIR. Scotiabank upgraded Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a report on Friday, January 17th. Canaccord Genuity Group reduced their price objective on shares of Birchcliff Energy from C$6.00 to C$5.75 in a report on Friday, November 15th. National Bank Financial upgraded shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, CIBC boosted their price objective on shares of Birchcliff Energy from C$5.75 to C$6.00 in a report on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$6.82.

Birchcliff Energy Stock Up 1.7 %

TSE BIR opened at C$5.95 on Thursday. Birchcliff Energy has a 52 week low of C$4.53 and a 52 week high of C$6.54. The company has a quick ratio of 0.97, a current ratio of 1.52 and a debt-to-equity ratio of 22.26. The business’s fifty day simple moving average is C$5.39 and its 200-day simple moving average is C$5.60. The firm has a market cap of C$1.60 billion, a PE ratio of 37.19, a P/E/G ratio of 0.35 and a beta of 1.93.

Birchcliff Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 6.72%. The ex-dividend date of this dividend was Friday, December 13th. Birchcliff Energy’s dividend payout ratio is currently 250.00%.

Insider Buying and Selling at Birchcliff Energy

In other Birchcliff Energy news, Director Aaron Jeffery Tonken sold 200,000 shares of Birchcliff Energy stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of C$5.53, for a total value of C$1,106,000.00. Also, Senior Officer Hue Tran sold 28,600 shares of Birchcliff Energy stock in a transaction dated Monday, December 9th. The shares were sold at an average price of C$5.10, for a total value of C$145,860.00. Insiders sold a total of 260,000 shares of company stock valued at $1,409,488 in the last three months. 1.55% of the stock is owned by corporate insiders.

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.