Birchcliff Energy (TSE:BIR) Sets New 52-Week High – Should You Buy?

Birchcliff Energy Ltd. (TSE:BIR)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as C$6.63 and last traded at C$6.61, with a volume of 310523 shares traded. The stock had previously closed at C$6.45.

Analysts Set New Price Targets

BIR has been the topic of several research analyst reports. Canaccord Genuity Group raised shares of Birchcliff Energy from a “hold” rating to a “buy” rating and increased their price objective for the company from C$6.00 to C$7.00 in a research report on Thursday, March 13th. TD Securities upgraded Birchcliff Energy from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$5.50 to C$7.00 in a research note on Thursday, January 30th. Cibc World Mkts upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 13th. National Bankshares set a C$8.00 price target on shares of Birchcliff Energy and gave the stock an “outperform” rating in a report on Thursday, March 13th. Finally, National Bank Financial raised shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$7.04.

Birchcliff Energy Stock Up 3.9 %

The company has a market capitalization of C$1.82 billion, a price-to-earnings ratio of 117.36, a P/E/G ratio of 0.35 and a beta of 1.93. 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 firm’s fifty day moving average price is C$5.76 and its 200-day moving average price is C$5.52.

Birchcliff Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be given a $0.03 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.12 annualized dividend and a yield of 1.79%. Birchcliff Energy’s dividend payout ratio is presently 700.63%.

Insider Activity

In other news, Senior Officer Hue Tran sold 30,000 shares of Birchcliff Energy stock in a transaction on Friday, March 21st. The shares were sold at an average price of C$6.30, for a total transaction of C$189,000.00. Insiders own 1.55% of the company’s stock.

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.