Birchcliff Energy (TSE:BIR) Raised to “Strong-Buy” at TD Securities

TD Securities upgraded shares of Birchcliff Energy (TSE:BIR) from a hold rating to a strong-buy rating in a research note released on Thursday morning,Zacks.com reports.

BIR has been the topic of several other reports. Canaccord Genuity Group reduced their price target on Birchcliff Energy from C$6.00 to C$5.75 in a report on Friday, November 15th. National Bank Financial raised shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday. National Bankshares dropped their price target on shares of Birchcliff Energy from C$6.50 to C$6.00 in a research note on Friday, September 27th. Scotiabank raised shares of Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research note on Friday, January 17th. Finally, CIBC raised their target price on Birchcliff Energy from C$5.75 to C$6.00 in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Birchcliff Energy presently has an average rating of “Buy” and a consensus target price of C$6.25.

Birchcliff Energy Trading Up 0.3 %

Shares of BIR stock opened at C$6.10 on Thursday. Birchcliff Energy has a twelve month low of C$4.53 and a twelve month high of C$6.54. The stock’s fifty day simple moving average is C$5.34 and its 200 day simple moving average is C$5.61. 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 firm has a market capitalization of C$1.64 billion, a P/E ratio of 38.13, a P/E/G ratio of 0.35 and a beta of 1.93.

Birchcliff Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 6.56%. The ex-dividend date was Friday, December 13th. Birchcliff Energy’s dividend payout ratio is presently 250.00%.

Insider Buying and Selling at Birchcliff Energy

In other news, Senior Officer Hue Tran sold 28,600 shares of Birchcliff Energy stock in a transaction on Monday, December 9th. The shares were sold at an average price of C$5.10, for a total value of C$145,860.00. Also, Director Aaron Jeffery Tonken sold 200,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of C$5.53, for a total transaction of C$1,106,000.00. Over the last quarter, insiders have sold 260,000 shares of company stock valued at $1,409,488. 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.