National Bankshares upgraded shares of Birchcliff Energy (TSE:BIR – Free Report) from a sector perform rating to an outperform rating in a research report report published on Thursday,BayStreet.CA reports. The firm currently has C$8.00 price target on the oil and natural gas company’s stock, up from their prior price target of C$6.00.
Several other brokerages have also recently issued reports on BIR. Canaccord Genuity Group dropped their target price on shares of Birchcliff Energy from C$6.00 to C$5.75 in a report on Friday, November 15th. TD Securities upgraded shares of Birchcliff Energy from a “hold” rating to a “buy” rating and increased their target price for the stock from C$5.50 to C$7.00 in a report on Thursday. CIBC increased their target price on shares of Birchcliff Energy from C$5.75 to C$6.00 in a report on Friday, January 17th. Scotiabank raised shares of Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research report on Friday, January 17th. Finally, National Bank Financial raised shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$6.82.
Read Our Latest Stock Analysis on BIR
Birchcliff Energy Stock Up 1.7 %
Birchcliff Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 6.72%. The ex-dividend date of this dividend was Friday, December 13th. Birchcliff Energy’s payout ratio is currently 250.00%.
Insider Activity at Birchcliff Energy
In related news, Senior Officer Hue Tran sold 31,400 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of C$5.02, for a total value of C$157,628.00. Also, Director Aaron Jeffery Tonken sold 200,000 shares of the stock in a transaction that occurred 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. Insiders sold 260,000 shares of company stock valued at $1,409,488 in the last three months. 1.55% of the stock is 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.
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