CIBC Increases Birchcliff Energy (TSE:BIR) Price Target to C$6.00

Birchcliff Energy (TSE:BIR) had its price target boosted by CIBC from C$5.75 to C$6.00 in a research note published on Friday,BayStreet.CA reports.

Other analysts have also issued reports about the stock. Cormark raised shares of Birchcliff Energy to a “strong-buy” rating in a research note on Monday, September 23rd. National Bankshares dropped their price objective on shares of Birchcliff Energy from C$6.50 to C$6.00 in a research note on Friday, September 27th. Canaccord Genuity Group cut their price objective on shares of Birchcliff Energy from C$6.00 to C$5.75 in a report on Friday, November 15th. Scotiabank upgraded Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a report on Friday. Finally, TD Securities cut their price target on Birchcliff Energy from C$5.50 to C$5.00 in a report on Tuesday, October 1st. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Birchcliff Energy has an average rating of “Moderate Buy” and an average price target of C$6.48.

Birchcliff Energy Stock Performance

Birchcliff Energy stock opened at C$5.79 on Friday. Birchcliff Energy has a fifty-two week low of C$4.53 and a fifty-two week high of C$6.54. The company has a market capitalization of C$1.56 billion, a PE ratio of 36.19, a P/E/G ratio of 0.35 and a beta of 1.93. The company has a 50 day moving average price of C$5.25 and a 200-day moving average price of C$5.61. The company has a debt-to-equity ratio of 22.26, a quick ratio of 0.97 and a current ratio of 1.52.

Birchcliff Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 6.91%. The ex-dividend date was Friday, December 13th. Birchcliff Energy’s payout ratio is 250.00%.

Insider Transactions at Birchcliff Energy

In related news, 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 transaction of C$1,106,000.00. Also, Senior Officer Hue Tran sold 28,600 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of C$5.10, for a total value of C$145,860.00. Insiders have sold 260,000 shares of company stock worth $1,409,488 over the last quarter. 1.55% of the stock is currently 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.