Birchcliff Energy (TSE:BIR) Reaches New 52-Week High – Here’s What Happened

Birchcliff Energy Ltd. (TSE:BIR)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as C$8.10 and last traded at C$8.07, with a volume of 680351 shares. The stock had previously closed at C$7.82.

Analyst Upgrades and Downgrades

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

Birchcliff Energy Trading Up 4.1%

The company has a debt-to-equity ratio of 27.63, a quick ratio of 0.97 and a current ratio of 1.01. The firm has a market capitalization of C$2.23 billion, a P/E ratio of 30.15, a PEG ratio of 0.35 and a beta of 0.09. The firm has a 50 day simple moving average of C$6.61 and a two-hundred day simple moving average of C$6.64.

Birchcliff Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.12 annualized dividend and a dividend yield of 1.5%. Birchcliff Energy’s dividend payout ratio (DPR) is currently 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.