Eight Capital Cuts Birchcliff Energy (TSE:BIR) Price Target to C$12.00

Birchcliff Energy (TSE:BIR – Get Rating) had its target price lowered by Eight Capital from C$15.00 to C$12.00 in a report released on Thursday morning, BayStreet.CA reports.

A number of other equities analysts also recently commented on BIR. CIBC decreased their target price on Birchcliff Energy from C$10.50 to C$9.00 and set a neutral rating for the company in a report on Thursday. Scotiabank downgraded Birchcliff Energy from an outperform rating to a sector perform rating and decreased their target price for the company from C$16.50 to C$13.00 in a report on Tuesday, January 17th. Stifel Firstegy restated a buy rating on shares of Birchcliff Energy in a report on Thursday, January 12th. ATB Capital decreased their price objective on Birchcliff Energy from C$12.50 to C$11.50 in a report on Thursday. Finally, Canaccord Genuity Group decreased their price objective on Birchcliff Energy from C$13.00 to C$12.00 in a report on Thursday, February 16th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Birchcliff Energy currently has an average rating of Moderate Buy and an average target price of C$11.81.

Birchcliff Energy Stock Performance

TSE:BIR opened at C$7.89 on Thursday. The firm has a market cap of C$2.10 billion, a PE ratio of 3.30, a price-to-earnings-growth ratio of 0.35 and a beta of 2.27. Birchcliff Energy has a fifty-two week low of C$6.86 and a fifty-two week high of C$12.48. The company has a debt-to-equity ratio of 5.47, a quick ratio of 0.97 and a current ratio of 1.05. The business has a 50 day moving average price of C$8.56 and a 200-day moving average price of C$9.68.

Birchcliff Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 31st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This is a boost from Birchcliff Energy’s previous quarterly dividend of $0.02. This represents a $0.80 annualized dividend and a dividend yield of 10.14%. Birchcliff Energy’s dividend payout ratio (DPR) is 33.47%.

Birchcliff Energy Company Profile

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Birchcliff Energy Ltd., an intermediate oil and natural gas company, acquires, explores for, develops, and produces natural gas, light oil, condensate, and 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.