Birchcliff Energy (TSE:BIR) Rating Increased 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.

Several other brokerages also recently commented on BIR. CIBC lifted their target price on shares of Birchcliff Energy from C$5.75 to C$6.00 in a research note on Friday, January 17th. Canaccord Genuity Group dropped their price target on Birchcliff Energy from C$6.00 to C$5.75 in a research report on Friday, November 15th. National Bank Financial raised shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. National Bankshares lowered their price target on Birchcliff Energy from C$6.50 to C$6.00 in a research report on Friday, September 27th. Finally, Scotiabank raised Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research report on Friday, January 17th. Two 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, the stock presently has a consensus rating of “Buy” and an average price target of C$6.25.

Birchcliff Energy Stock Performance

TSE BIR opened at C$6.10 on Thursday. The company has a debt-to-equity ratio of 22.26, a quick ratio of 0.97 and a current ratio of 1.52. The company has a fifty day moving average of C$5.34 and a 200-day moving average of C$5.61. Birchcliff Energy has a 52-week low of C$4.53 and a 52-week high of C$6.54. The company 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 Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.56%. Birchcliff Energy’s dividend payout ratio is presently 250.00%.

Insider Activity at Birchcliff Energy

In other Birchcliff Energy news, Senior Officer Hue Tran sold 31,400 shares of the business’s stock in a transaction dated 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 on Friday, November 22nd. The shares were sold at an average price of C$5.53, for a total value of C$1,106,000.00. Insiders sold a total of 260,000 shares of company stock worth $1,409,488 in the last quarter. 1.55% of the stock is owned by company insiders.

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.