Birchcliff Energy (TSE:BIR) Stock Rating Upgraded by Scotiabank

Scotiabank upgraded shares of Birchcliff Energy (TSE:BIR - Free Report) from a sector perform rating to an outperform rating in a report released on Friday morning,BayStreet.CA reports.

Other equities research analysts have also issued reports about the company. Canaccord Genuity Group decreased their target price on Birchcliff Energy from C$6.00 to C$5.75 in a research report on Friday, November 15th. National Bankshares decreased their price objective on shares of Birchcliff Energy from C$6.50 to C$6.00 in a report on Friday, September 27th. TD Securities dropped their target price on shares of Birchcliff Energy from C$5.50 to C$5.00 in a research note on Tuesday, October 1st. Finally, Cormark upgraded shares of Birchcliff Energy to a "strong-buy" rating in a research note on Monday, September 23rd. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$6.48.

Birchcliff Energy Stock Performance

Shares of TSE BIR traded up C$0.19 during midday trading on Friday, reaching C$5.79. The company's stock had a trading volume of 1,185,236 shares, compared to its average volume of 935,334. The stock has a market capitalization of C$1.56 billion, a P/E ratio of 36.19, a PEG ratio of 0.35 and a beta of 1.93. The company has a debt-to-equity ratio of 22.26, a current ratio of 1.52 and a quick ratio of 0.97. The firm has a 50 day moving average price of C$5.25 and a 200-day moving average price of C$5.61. Birchcliff Energy has a 12-month low of C$4.53 and a 12-month high of C$6.54.

Birchcliff Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.91%. The ex-dividend date of this dividend was Friday, December 13th. Birchcliff Energy's payout ratio is currently 250.00%.

Insider Activity at Birchcliff Energy

In related news, Director Aaron Jeffery Tonken sold 200,000 shares of the business's stock in a transaction that occurred on 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 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 ninety days, insiders sold 260,000 shares of company stock worth $1,409,488. Corporate 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.