Birchcliff Energy (TSE:BIR) Price Target Raised to C$5.50

Birchcliff Energy (TSE:BIR) had its target price increased by Canaccord Genuity Group from C$5.25 to C$5.50 in a report published on Wednesday, BayStreet.CA reports. Canaccord Genuity Group currently has a hold rating on the oil and natural gas company’s stock.

BIR has been the topic of several other research reports. CIBC lifted their price target on shares of Birchcliff Energy from C$5.00 to C$5.75 in a research report on Thursday, March 14th. Royal Bank of Canada reduced their price target on shares of Birchcliff Energy from C$8.00 to C$7.00 and set an outperform rating on the stock in a research report on Thursday, January 18th. Raymond James lowered shares of Birchcliff Energy from an outperform rating to a market perform rating and reduced their price target for the company from C$11.50 to C$9.00 in a research report on Friday, January 19th. ATB Capital reduced their price target on shares of Birchcliff Energy from C$8.00 to C$7.50 in a research report on Thursday, February 15th. Finally, Stifel Nicolaus dropped their target price on shares of Birchcliff Energy from C$6.50 to C$5.00 and set a hold rating for the company in a report on Thursday, January 18th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Birchcliff Energy has a consensus rating of Hold and an average target price of C$6.36.

Birchcliff Energy Trading Up 3.7 %

BIR opened at C$5.65 on Wednesday. The company has a debt-to-equity ratio of 17.29, a current ratio of 0.91 and a quick ratio of 0.97. The company’s 50 day simple moving average is C$5.38 and its two-hundred day simple moving average is C$6.09. Birchcliff Energy has a 1-year low of C$4.61 and a 1-year high of C$8.68. The firm has a market capitalization of C$1.52 billion, a price-to-earnings ratio of 141.25, a price-to-earnings-growth ratio of 0.35 and a beta of 2.04.

Birchcliff Energy (TSE:BIR) last released its earnings results on Wednesday, February 14th. The oil and natural gas company reported C($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.07 by C($0.09). Birchcliff Energy had a return on equity of 0.42% and a net margin of 1.40%. The business had revenue of C$183.30 million during the quarter. Analysts expect that Birchcliff Energy will post 0.0898464 EPS for the current fiscal year.

Birchcliff Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.40 annualized dividend and a yield of 7.08%. Birchcliff Energy’s dividend payout ratio (DPR) is presently 1,000.00%.

Insider Activity at Birchcliff Energy

In other Birchcliff Energy news, Senior Officer Christopher Andrew Carlsen sold 200,000 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of C$5.00, for a total value of C$1,000,000.00. 1.50% of the stock is owned by insiders.

About Birchcliff Energy

Birchcliff Energy Ltd., an intermediate oil and natural gas company, explores for, develops, and produces natural gas, light oil, condensate, and other natural gas liquids in Western Canada. The company holds interests in the areas of Montney/Doig Resource Play, including the Pouce Coupe and Gordondale properties in Alberta.