Birchcliff Energy (TSE:BIR) Hits New 1-Year High – Still a Buy?

Birchcliff Energy Ltd. (TSE:BIR)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as C$7.59 and last traded at C$7.49, with a volume of 756799 shares traded. The stock had previously closed at C$7.39.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BIR shares. Raymond James Financial set a C$7.50 target price on shares of Birchcliff Energy and gave the stock a “market perform” rating in a report on Tuesday, April 8th. CIBC upgraded shares of Birchcliff Energy from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from C$7.00 to C$8.00 in a research note on Thursday, March 13th. Cibc World Mkts raised shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 13th. National Bankshares lifted their target price on Birchcliff Energy from C$8.00 to C$8.50 and gave the company an “outperform” rating in a research note on Thursday, May 22nd. Finally, Cormark raised Birchcliff Energy to a “strong-buy” rating in a report on Thursday, March 13th. Five investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Birchcliff Energy has an average rating of “Buy” and a consensus target price of C$7.16.

Birchcliff Energy Stock Performance

The firm has a market cap of C$2.10 billion, a price-to-earnings ratio of 135.92, a PEG ratio of 0.35 and a beta of 1.93. The stock’s fifty day moving average is C$6.45 and its two-hundred day moving average is C$5.93. The company has a debt-to-equity ratio of 27.63, a quick ratio of 0.97 and a current ratio of 1.01.

Birchcliff Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 30th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.12 annualized dividend and a dividend yield of 1.55%. Birchcliff Energy’s payout ratio is currently 700.63%.

Insider Activity

In other news, Director Aaron Jeffery Tonken sold 119,700 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of C$7.39, for a total value of C$884,583.00. Also, Senior Officer Robyn Bourgeois sold 26,800 shares of the firm’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of C$7.04, for a total value of C$188,672.00. Over the last 90 days, insiders have sold 149,400 shares of company stock valued at $1,092,181. 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.