Robyn Bourgeois Sells 2,300 Shares of Birchcliff Energy Ltd. (TSE:BIR) Stock

Birchcliff Energy Ltd. (TSE:BIR) Senior Officer Robyn Bourgeois sold 2,300 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of C$6.48, for a total value of C$14,904.00.

Birchcliff Energy Trading Down 0.3 %

BIR opened at C$6.65 on Friday. The stock has a 50-day moving average of C$5.84 and a 200 day moving average of C$5.53. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 27.63. Birchcliff Energy Ltd. has a 12 month low of C$4.53 and a 12 month high of C$6.83. The firm has a market cap of C$1.80 billion, a P/E ratio of 116.48, a P/E/G ratio of 0.35 and a beta of 1.93.

Birchcliff Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Friday, March 14th. Birchcliff Energy’s dividend payout ratio is currently 700.63%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BIR. Canaccord Genuity Group upgraded 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 research note on Thursday, March 13th. Cormark upgraded shares of Birchcliff Energy to a “strong-buy” rating in a research report on Thursday, March 13th. TD Securities raised shares of Birchcliff Energy from a “hold” rating to a “buy” rating and increased their price objective for the company from C$5.50 to C$7.00 in a report on Thursday, January 30th. CIBC raised Birchcliff Energy from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from C$7.00 to C$8.00 in a report on Thursday, March 13th. Finally, Cibc World Mkts raised Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Birchcliff Energy currently has an average rating of “Buy” and an average target price of C$7.04.

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.