Birchcliff Energy Ltd. (BIR) Reaches New 1-Year Low on Analyst Downgrade
Birchcliff Energy Ltd. (TSE:BIR) shares hit a new 52-week low on Friday after Laurentian lowered their price target on the stock from C$10.00 to C$9.00. The stock traded as low as C$5.29 and last traded at C$5.32, with a volume of 2,083,793 shares trading hands. The stock had previously closed at C$5.50.
Other analysts also recently issued reports about the company. Laurentian Bank of Canada upped their price objective on Birchcliff Energy from C$9.00 to C$10.00 in a report on Friday. Raymond James Financial, Inc. upped their price objective on Birchcliff Energy from C$9.75 to C$10.25 and gave the stock an “outperform” rating in a report on Friday, August 11th. National Bank Financial dropped their price objective on Birchcliff Energy from C$10.00 to C$9.25 and set an “outperform” rating for the company in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada upped their price objective on Birchcliff Energy from C$9.00 to C$11.00 in a report on Thursday, July 20th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Birchcliff Energy presently has a consensus rating of “Buy” and a consensus price target of C$11.30.
In other news, insider Myles Bosman acquired 5,700 shares of the company’s stock in a transaction dated Thursday, October 5th. The stock was acquired at an average cost of C$5.56 per share, for a total transaction of C$31,692.00. Over the last 90 days, insiders have bought 20,400 shares of company stock valued at $116,783.
The firm has a 50 day moving average price of $5.90 and a 200 day moving average price of $6.35. The firm has a market capitalization of $1.41 billion and a PE ratio of 24.74.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, October 2nd were issued a dividend of $0.025 per share. The ex-dividend date was Wednesday, September 13th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.82%.
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About Birchcliff Energy
Birchcliff Energy Ltd. is an intermediate oil and natural gas company. The Company is engaged in the exploration for and the development, production and acquisition of petroleum and natural gas reserves in Western Canada. Its operations are concentrated within core area, the Peace River Arch, which is centered over 90 kilometers northwest of Grande Prairie, Alberta, adjacent to the Alberta/British Columbia border.
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