Birchcliff Energy (TSE:BIR) Upgraded at TD Securities

TD Securities upgraded shares of Birchcliff Energy (TSE:BIR) from a hold rating to a buy rating in a research note released on Thursday,BayStreet.CA reports. The brokerage currently has C$7.00 target price on the oil and natural gas company’s stock, up from their prior target price of C$5.50.

A number of other brokerages also recently issued reports on BIR. Canaccord Genuity Group lowered their price target on Birchcliff Energy from C$6.00 to C$5.75 in a report on Friday, November 15th. Scotiabank raised Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a report on Friday, January 17th. CIBC boosted their price objective on Birchcliff Energy from C$5.75 to C$6.00 in a research note on Friday, January 17th. Finally, National Bank Financial upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$6.82.

Birchcliff Energy Stock Performance

Shares of BIR opened at C$5.95 on Thursday. The stock has a 50 day moving average price of C$5.39 and a 200 day moving average price of C$5.60. 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 company has a market capitalization of C$1.60 billion, a price-to-earnings ratio of 37.19, a price-to-earnings-growth ratio of 0.35 and a beta of 1.93. Birchcliff Energy has a 52-week low of C$4.53 and a 52-week high of C$6.54.

Birchcliff Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 6.72%. The ex-dividend date was Friday, December 13th. Birchcliff Energy’s dividend payout ratio (DPR) is presently 250.00%.

Insider Transactions at Birchcliff Energy

In other Birchcliff Energy news, Director Aaron Jeffery Tonken sold 200,000 shares of the stock in a transaction on 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 31,400 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of C$5.02, for a total value of C$157,628.00. Insiders sold 260,000 shares of company stock worth $1,409,488 over the last 90 days. 1.55% of the stock is currently owned by insiders.

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.