Birchcliff Energy (TSE:BIR) Sets New 52-Week High – What’s Next?

Birchcliff Energy Ltd. (TSE:BIR) hit a new 52-week high on Friday . The company traded as high as C$7.87 and last traded at C$7.87, with a volume of 1511924 shares trading hands. The stock had previously closed at C$7.54.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Raymond James Financial upgraded Birchcliff Energy from a “hold” rating to a “moderate buy” rating and lifted their price objective for the stock from C$7.50 to C$8.00 in a report on Thursday, August 14th. National Bankshares decreased their price target on shares of Birchcliff Energy from C$9.25 to C$9.00 and set an “outperform” rating for the company in a research report on Wednesday, October 22nd. Scotiabank cut their price target on shares of Birchcliff Energy from C$10.00 to C$9.00 in a report on Thursday, October 9th. Atb Cap Markets upgraded shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. Finally, CIBC raised their price objective on shares of Birchcliff Energy from C$8.50 to C$9.50 in a report on Wednesday, October 15th. Four equities research analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$8.21.

Birchcliff Energy Trading Up 4.4%

The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 27.63. The company has a market cap of C$2.15 billion, a price-to-earnings ratio of 29.15, a price-to-earnings-growth ratio of 0.35 and a beta of 0.01. The firm has a 50-day moving average price of C$6.42 and a 200 day moving average price of C$6.59.

Birchcliff Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 29th were paid a dividend of $0.03 per share. The ex-dividend date was Monday, September 15th. This represents a $0.12 annualized dividend and a yield of 1.5%. Birchcliff Energy’s payout ratio is presently 70.37%.

Birchcliff Energy Company Profile

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.