Birchcliff Energy (TSE:BIR) Reaches New 12-Month High – What’s Next?

Birchcliff Energy Ltd. (TSE:BIR) hit a new 52-week high on Thursday . The stock traded as high as C$7.20 and last traded at C$7.16, with a volume of 889530 shares changing hands. The stock had previously closed at C$6.93.

Wall Street Analyst Weigh In

BIR has been the subject of a number of recent analyst reports. Cibc World Mkts upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 13th. Cormark raised Birchcliff Energy to a “strong-buy” rating in a research note on Thursday, March 13th. National Bankshares increased their price objective on shares of Birchcliff Energy from C$8.00 to C$8.50 and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. Raymond James set a C$7.50 target price on shares of Birchcliff Energy and gave the company a “market perform” rating in a research report on Tuesday, April 8th. Finally, Canaccord Genuity Group raised shares of Birchcliff Energy from a “hold” rating to a “buy” rating and upped their price target for the stock from C$6.00 to C$7.00 in a report on Thursday, March 13th. Five equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Birchcliff Energy presently has a consensus rating of “Buy” and an average target price of C$7.16.

Birchcliff Energy Stock Performance

The company has a debt-to-equity ratio of 27.63, a current ratio of 1.01 and a quick ratio of 0.97. The stock has a market cap of C$2.01 billion, a P/E ratio of 129.79, a PEG ratio of 0.35 and a beta of 1.93. The stock has a 50-day simple moving average of C$6.30 and a 200-day simple moving average of C$5.87.

Birchcliff Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 30th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.62%. Birchcliff Energy’s payout ratio is currently 700.63%.

Insider Activity at Birchcliff Energy

In other Birchcliff Energy news, Senior Officer Robyn Bourgeois sold 26,800 shares of the company’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of C$7.04, for a total value of C$188,672.00. Also, Senior Officer Hue Tran sold 30,000 shares of Birchcliff Energy stock in a transaction dated Friday, March 21st. The shares were sold at an average price of C$6.30, for a total value of C$189,000.00. In the last three months, insiders have sold 59,400 shares of company stock valued at $394,388. 1.55% of the stock is owned by 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.