Birchcliff Energy (TSE:BIR) Insider Acquires C$15,017.60 in Stock

Birchcliff Energy Ltd. (TSE:BIR) insider Christopher Andrew Carlsen acquired 2,080 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was bought at an average price of C$7.22 per share, with a total value of C$15,017.60. Following the completion of the acquisition, the insider directly owned 121,435 shares of the company’s stock, valued at approximately C$876,760.70. This represents a 1.74% increase in their ownership of the stock.

Birchcliff Energy Price Performance

Shares of TSE:BIR opened at C$7.27 on Friday. The stock has a market cap of C$1.99 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 0.35 and a beta of 0.09. The company has a debt-to-equity ratio of 27.63, a current ratio of 1.01 and a quick ratio of 0.97. Birchcliff Energy Ltd. has a 12 month low of C$4.67 and a 12 month high of C$8.19. The stock’s 50 day moving average price is C$6.95 and its 200 day moving average price is C$6.70.

Birchcliff Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, December 15th. Birchcliff Energy’s payout ratio is currently 70.37%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Scotiabank decreased their target price on Birchcliff Energy from C$10.00 to C$9.00 in a research note on Thursday, October 9th. National Bankshares cut 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 report on Wednesday, October 22nd. CIBC lifted their price objective on shares of Birchcliff Energy from C$8.50 to C$9.50 in a research note on Wednesday, October 15th. Finally, BMO Capital Markets raised shares of Birchcliff Energy from a “hold” rating to an “outperform” rating and lifted their price objective for the stock from C$7.50 to C$8.50 in a research note on Monday, December 15th. Four equities research analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to data from MarketBeat, Birchcliff Energy has an average rating of “Buy” and a consensus target price of C$8.25.

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. To get the full value out of its natural gas wells, several gas plants are completely owned and operated for gas processing purposes.