Birchcliff Energy Ltd. (TSE:BIR) Given Consensus Recommendation of “Buy” by Brokerages

Birchcliff Energy Ltd. (TSE:BIR) has been given an average rating of “Buy” by the ten research firms that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation and four have given a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is C$7.41.

A number of research analysts recently issued reports on BIR shares. Raymond James Financial upgraded shares of Birchcliff Energy from a “hold” rating to a “moderate buy” rating and boosted their price objective for the company from C$7.50 to C$8.00 in a report on Thursday, August 14th. Atb Cap Markets upgraded shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. Finally, Royal Bank Of Canada upped their price target on shares of Birchcliff Energy from C$7.00 to C$8.00 and gave the stock an “outperform” rating in a research report on Monday, June 30th.

Insider Buying and Selling

In related news, Director Cameron Maclean Proctor purchased 15,000 shares of Birchcliff Energy stock in a transaction dated Tuesday, August 19th. The shares were bought at an average cost of C$6.05 per share, for a total transaction of C$90,750.00. Following the purchase, the director owned 152,500 shares in the company, valued at approximately C$922,625. This trade represents a 10.91% increase in their position. 1.55% of the stock is currently owned by corporate insiders.

Birchcliff Energy Trading Up 0.2%

Shares of TSE BIR opened at C$5.91 on Tuesday. Birchcliff Energy has a 1-year low of C$4.53 and a 1-year high of C$7.86. The company has a market cap of C$1.61 billion, a PE ratio of 21.11, a P/E/G ratio of 0.35 and a beta of 0.39. 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 50-day moving average of C$6.30 and a two-hundred day moving average of C$6.46.

Birchcliff Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 29th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, September 15th. Birchcliff Energy’s dividend payout ratio (DPR) is currently 92.86%.

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.