Birchcliff Energy (TSE:BIR) Upgraded to Moderate Buy at Raymond James

Raymond James upgraded shares of Birchcliff Energy (TSE:BIR) to a moderate buy rating in a report issued on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. TD Securities upgraded shares of Birchcliff Energy from a “hold” rating to a “buy” rating and raised their price target for the stock from C$5.50 to C$7.00 in a research note on Thursday, January 30th. National Bankshares set a C$8.00 price target on shares of Birchcliff Energy and gave the stock an “outperform” rating in a research note on Thursday, March 13th. Canaccord Genuity Group raised Birchcliff Energy from a “hold” rating to a “buy” rating and boosted their target price for the company from C$6.00 to C$7.00 in a research note on Thursday, March 13th. Cormark upgraded shares of Birchcliff Energy to a “strong-buy” rating in a report on Thursday, March 13th. Finally, National Bank Financial upgraded shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$7.09.

Birchcliff Energy Price Performance

BIR opened at C$5.82 on Monday. Birchcliff Energy has a 1 year low of C$4.53 and a 1 year high of C$6.95. The firm’s fifty day moving average price is C$5.88 and its two-hundred day moving average price is C$5.57. The company has a market capitalization of C$1.58 billion, a price-to-earnings ratio of 101.94, a P/E/G ratio of 0.35 and a beta of 1.93. The company has a debt-to-equity ratio of 27.63, a current ratio of 1.01 and a quick ratio of 0.97.

Birchcliff Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Friday, March 14th. Birchcliff Energy’s payout ratio is currently 700.63%.

Insider Transactions at Birchcliff Energy

In related news, Senior Officer Hue Tran sold 30,000 shares of Birchcliff Energy stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of C$6.30, for a total transaction of C$189,000.00. Company insiders own 1.55% of the company’s stock.

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.