Brokerages Set Birchcliff Energy Ltd. (TSE:BIR) Target Price at C$8.67

Shares of Birchcliff Energy Ltd. (TSE:BIR) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is C$8.67.

Several equities analysts have commented on BIR shares. BMO Capital Markets downgraded shares of Birchcliff Energy from an “outperform” rating to a “hold” rating and decreased their price objective for the company from C$8.50 to C$7.00 in a report on Tuesday, April 7th. Raymond James Financial raised their target price on shares of Birchcliff Energy from C$8.00 to C$8.50 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Finally, Scotiabank raised shares of Birchcliff Energy to a “hold” rating in a report on Friday, June 26th.

Birchcliff Energy Stock Up 1.4%

BIR stock opened at C$6.55 on Monday. The company has a current ratio of 1.17, a quick ratio of 0.97 and a debt-to-equity ratio of 23.09. The firm has a market capitalization of C$1.80 billion, a PE ratio of 26.20, a PEG ratio of 0.35 and a beta of -0.57. Birchcliff Energy has a 1-year low of C$5.69 and a 1-year high of C$8.19. The business’s 50 day simple moving average is C$6.47 and its 200 day simple moving average is C$6.73.

Birchcliff Energy (TSE:BIR) last posted its quarterly earnings results on Wednesday, May 13th. The oil and natural gas company reported C$0.25 earnings per share for the quarter. Birchcliff Energy had a return on equity of 3.07% and a net margin of 9.59%.The business had revenue of C$217.76 million for the quarter. As a group, research analysts anticipate that Birchcliff Energy will post 0.1118631 EPS for the current year.

Birchcliff Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, June 15th. Birchcliff Energy’s dividend payout ratio is currently 48.00%.

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.