Birchcliff Energy (TSE:BIR) Given a C$7.50 Price Target by Raymond James Analysts

Raymond James set a C$7.50 target price on Birchcliff Energy (TSE:BIR - Free Report) in a research note issued to investors on Tuesday morning,BayStreet.CA reports. The firm currently has a market perform rating on the oil and natural gas company's stock.

A number of other brokerages also recently issued reports on BIR. Cormark raised Birchcliff Energy to a "strong-buy" rating in a report on Thursday, March 13th. CIBC upgraded shares of Birchcliff Energy from a "neutral" rating to an "outperform" rating and upped their target price for the company from C$7.00 to C$8.00 in a report on Thursday, March 13th. Scotiabank upgraded shares of Birchcliff Energy from a "sector perform" rating to an "outperform" rating in a research note on Friday, January 17th. Cibc World Mkts upgraded shares of Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 13th. Finally, National Bankshares set a C$8.00 target price on Birchcliff Energy and gave the stock an "outperform" rating in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of C$7.09.

Birchcliff Energy Stock Up 2.7 %

TSE BIR traded up C$0.15 during trading on Tuesday, reaching C$5.64. 1,168,988 shares of the company's stock were exchanged, compared to its average volume of 1,489,658. The company has a 50 day moving average price of C$5.88 and a two-hundred day moving average price of C$5.57. The stock has a market cap of C$1.53 billion, a P/E ratio of 98.79, a price-to-earnings-growth ratio of 0.35 and a beta of 1.93. Birchcliff Energy has a 1 year low of C$4.53 and a 1 year high of C$6.95. The company has a debt-to-equity ratio of 27.63, a quick ratio of 0.97 and a current ratio of 1.01.

Birchcliff Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Friday, March 14th. Birchcliff Energy's payout ratio is 700.63%.

Insider Transactions at Birchcliff Energy

In other Birchcliff Energy news, Senior Officer Hue Tran sold 30,000 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of C$6.30, for a total value of C$189,000.00. Company 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.