Birchcliff Energy (TSE:BIR) Stock Price Down 4% – Should You Sell?

Shares of Birchcliff Energy Ltd. (TSE:BIR) dropped 4% during trading on Thursday . The stock traded as low as C$5.54 and last traded at C$5.56. Approximately 248,454 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 793,462 shares. The stock had previously closed at C$5.79.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BIR. National Bankshares decreased their target price on shares of Birchcliff Energy from C$6.50 to C$6.00 in a research note on Friday, September 27th. TD Securities decreased their price objective on Birchcliff Energy from C$5.50 to C$5.00 in a research report on Tuesday, October 1st. Cormark raised Birchcliff Energy to a “strong-buy” rating in a report on Monday, September 23rd. Scotiabank cut their price target on shares of Birchcliff Energy from C$7.50 to C$7.00 and set a “sector perform” rating for the company in a report on Wednesday, October 16th. Finally, Canaccord Genuity Group decreased their price target on Birchcliff Energy from C$6.00 to C$5.75 in a research note on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$6.45.

Birchcliff Energy Price Performance

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’s fifty day simple moving average is C$5.22 and its two-hundred day simple moving average is C$5.61. The stock has a market capitalization of C$1.51 billion, a PE ratio of 35.00, a P/E/G ratio of 0.35 and a beta of 1.93.

Birchcliff Energy Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 7.14%. The ex-dividend date of this dividend was Friday, December 13th. Birchcliff Energy’s payout ratio is 250.00%.

Insider Activity at Birchcliff Energy

In other news, Director Aaron Jeffery Tonken sold 200,000 shares of the company’s stock in a transaction dated 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 31,400 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of C$5.02, for a total transaction of C$157,628.00. In the last quarter, insiders sold 260,000 shares of company stock valued at $1,409,488. 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.