Birchcliff Energy (BIR) Sets New 1-Year Low at $4.61

Birchcliff Energy Ltd. (TSE:BIR)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as C$4.61 and last traded at C$4.63, with a volume of 1281866 shares. The stock had previously closed at C$4.83.

A number of equities analysts have issued reports on BIR shares. Raymond James Financial cut their price objective on shares of Birchcliff Energy from C$10.00 to C$9.50 and set an “outperform” rating on the stock in a report on Thursday, November 9th. Laurentian Bank of Canada lifted their price objective on shares of Birchcliff Energy from C$9.00 to C$10.00 in a report on Friday, October 6th. Finally, Laurentian cut their price objective on shares of Birchcliff Energy from C$10.00 to C$9.00 in a report on Friday, October 6th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Birchcliff Energy presently has an average rating of “Buy” and an average price target of C$11.05.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Tuesday, January 2nd will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Thursday, December 14th. Birchcliff Energy’s dividend payout ratio (DPR) is currently -30.00%.

In related news, insider Myles Bosman purchased 5,700 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The shares were bought at an average cost of C$5.56 per share, with a total value of C$31,692.00. Insiders purchased a total of 19,200 shares of company stock worth $104,147 over the last three months.

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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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