Shares of Birchcliff Energy Ltd. (TSE:BIR – Get Free Report) reached a new 52-week low during mid-day trading on Thursday after BMO Capital Markets lowered their price target on the stock from C$8.50 to C$8.00. BMO Capital Markets currently has a market perform rating on the stock. Birchcliff Energy traded as low as C$6.87 and last traded at C$6.87, with a volume of 462827 shares. The stock had previously closed at C$7.03.
Other analysts have also recently issued research reports about the stock. Raymond James upped their price objective on shares of Birchcliff Energy from C$10.50 to C$11.50 and gave the company an “outperform” rating in a research note on Friday, September 8th. Stifel Nicolaus dropped their price target on Birchcliff Energy from C$8.50 to C$7.75 in a research report on Monday, October 16th. Finally, National Bankshares reduced their price objective on Birchcliff Energy from C$9.75 to C$9.25 and set an “outperform” rating on the stock in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$10.29.
Birchcliff Energy Trading Down 3.6 %
Birchcliff Energy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.20 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.80 annualized dividend and a yield of 11.80%. Birchcliff Energy’s dividend payout ratio (DPR) is 69.57%.
About Birchcliff Energy
Birchcliff Energy Ltd., an intermediate oil and natural gas company, acquires, explores for, develops, and produces natural gas, light oil, condensate, and other natural gas liquids in Western Canada. The company holds interests in the Montney/Doig resource play located approximately 95 km northwest of Grande Prairie, Alberta.
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