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

Birchcliff Energy Ltd. (TSE:BIR)’s stock price reached a new 52-week high on Tuesday . The company traded as high as C$6.84 and last traded at C$6.82, with a volume of 1450725 shares traded. The stock had previously closed at C$6.68.

Analyst Ratings Changes

A number of research analysts recently weighed in on BIR shares. Canaccord Genuity Group upgraded Birchcliff Energy from a “hold” rating to a “buy” rating and lifted their target price for the company from C$6.00 to C$7.00 in a report on Thursday, March 13th. CIBC raised shares of Birchcliff Energy from a “neutral” rating to an “outperform” rating and lifted their price target for the company from C$7.00 to C$8.00 in a research report on Thursday, March 13th. Cibc World Mkts raised shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 13th. National Bankshares set a C$8.00 target price on shares of Birchcliff Energy and gave the company an “outperform” rating in a report on Thursday, March 13th. Finally, Cormark upgraded Birchcliff Energy to a “strong-buy” rating in a report on Thursday, March 13th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$7.04.

Birchcliff Energy Stock Up 2.1 %

The firm’s fifty day moving average is C$5.85 and its two-hundred day moving average is C$5.54. The firm has a market cap of C$1.85 billion, a price-to-earnings ratio of 119.46, a P/E/G ratio of 0.35 and a beta of 1.93. The company has a debt-to-equity ratio of 27.63, a current ratio of 1.01 and a quick ratio of 0.97.

Birchcliff Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.76%. The ex-dividend date was Friday, March 14th. Birchcliff Energy’s dividend payout ratio (DPR) is presently 700.63%.

Insider Activity

In other Birchcliff Energy news, Senior Officer Hue Tran sold 30,000 shares of the company’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of C$6.30, for a total value of C$189,000.00. 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.