Birchcliff Energy (TSE:BIR) Given New C$8.50 Price Target at National Bankshares

Birchcliff Energy (TSE:BIR) had its price objective raised by National Bankshares from C$8.00 to C$8.50 in a research note released on Thursday,BayStreet.CA reports. They currently have an outperform rating on the oil and natural gas company’s stock.

A number of other research firms have also recently issued reports on BIR. Cormark raised Birchcliff Energy to a “strong-buy” rating in a research report on Thursday, March 13th. Raymond James set a C$7.50 price objective on Birchcliff Energy and gave the company a “market perform” rating in a research report on Tuesday, April 8th. National Bank Financial raised Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Cibc World Mkts raised Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 13th. Finally, CIBC raised Birchcliff Energy from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from C$7.00 to C$8.00 in a research report on Thursday, March 13th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$7.16.

Birchcliff Energy Stock Performance

Shares of BIR stock opened at C$6.51 on Thursday. Birchcliff Energy has a 1-year low of C$4.53 and a 1-year high of C$6.95. 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 company has a market capitalization of C$1.77 billion, a price-to-earnings ratio of 114.03, a P/E/G ratio of 0.35 and a beta of 1.93. The stock’s fifty day simple moving average is C$6.16 and its 200-day simple moving average is C$5.69.

Birchcliff Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were given a $0.03 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.84%. Birchcliff Energy’s dividend payout ratio is currently 700.63%.

Insiders Place Their Bets

In other Birchcliff Energy news, Senior Officer Hue Tran sold 30,000 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of C$6.30, for a total value of C$189,000.00. Insiders sold 32,600 shares of company stock valued at $205,716 over the last quarter. 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.