Birchcliff Energy (TSE:BIR) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Birchcliff Energy (TSE:BIR) from a hold rating to an outperform rating in a report released on Monday morning, Marketbeat reports. They currently have C$8.50 price objective on the oil and natural gas company’s stock, up from their previous price objective of C$7.50.

Other analysts have also recently issued research reports about the company. Scotiabank cut their target price on Birchcliff Energy from C$10.00 to C$9.00 in a research report on Thursday, October 9th. National Bankshares dropped their price target on Birchcliff Energy from C$9.25 to C$9.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. Finally, CIBC boosted their price objective on Birchcliff Energy from C$8.50 to C$9.50 in a research note on Wednesday, October 15th. Four analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to MarketBeat.com, Birchcliff Energy presently has a consensus rating of “Buy” and an average target price of C$8.25.

Birchcliff Energy Trading Down 0.7%

TSE BIR opened at C$7.14 on Monday. The firm’s fifty day moving average price is C$6.90 and its 200 day moving average price is C$6.69. Birchcliff Energy has a 12 month low of C$4.53 and a 12 month high of C$8.19. The company has a debt-to-equity ratio of 27.63, a current ratio of 1.01 and a quick ratio of 0.97. The company has a market capitalization of C$1.95 billion, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 0.35 and a beta of 0.09.

Birchcliff Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, December 15th. Birchcliff Energy’s dividend payout ratio (DPR) is 70.37%.

About Birchcliff Energy

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.