Birchcliff Energy (TSE:BIR) Rating Increased to Strong-Buy at National Bank Financial

National Bank Financial upgraded shares of Birchcliff Energy (TSE:BIR) from a hold rating to a strong-buy rating in a research note published on Wednesday morning,Zacks.com reports.

Several other research firms have also recently issued reports on BIR. Scotiabank upgraded shares of Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research report on Friday, January 17th. National Bankshares cut their price objective on Birchcliff Energy from C$6.50 to C$6.00 in a research report on Friday, September 27th. CIBC lifted their target price on Birchcliff Energy from C$5.75 to C$6.00 in a report on Friday, January 17th. TD Securities dropped their price target on Birchcliff Energy from C$5.50 to C$5.00 in a research note on Tuesday, October 1st. Finally, Canaccord Genuity Group reduced their price objective on Birchcliff Energy from C$6.00 to C$5.75 in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Birchcliff Energy currently has a consensus rating of “Buy” and an average price target of C$6.25.

Birchcliff Energy Price Performance

TSE BIR opened at C$6.08 on Wednesday. The company has a current ratio of 1.52, a quick ratio of 0.97 and a debt-to-equity ratio of 22.26. Birchcliff Energy has a 12 month low of C$4.53 and a 12 month high of C$6.54. The stock has a market cap of C$1.64 billion, a price-to-earnings ratio of 38.00, a PEG ratio of 0.35 and a beta of 1.93. The company’s 50 day moving average is C$5.29 and its two-hundred day moving average is C$5.61.

Birchcliff Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date was Friday, December 13th. Birchcliff Energy’s dividend payout ratio (DPR) is 250.00%.

Insider Activity

In other news, Senior Officer Hue Tran sold 28,600 shares of Birchcliff Energy stock in a transaction on Monday, December 9th. The stock was sold at an average price of C$5.10, for a total transaction of C$145,860.00. Also, Director Aaron Jeffery Tonken sold 200,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of C$5.53, for a total transaction of C$1,106,000.00. Over the last quarter, insiders have sold 260,000 shares of company stock valued at $1,409,488. 1.55% of the stock is currently owned by company 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.