Birchcliff Energy Ltd. (TSE:BIR) Given Average Recommendation of “Buy” by Brokerages

Birchcliff Energy Ltd. (TSE:BIR) has been assigned a consensus rating of “Buy” from the eleven analysts that are currently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a buy rating and four have issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is C$8.44.

BIR has been the topic of several research reports. National Bankshares dropped their price objective on Birchcliff Energy from C$9.25 to C$9.00 and set an “outperform” rating on the stock in a report on Wednesday, October 22nd. Scotiabank dropped their price target on Birchcliff Energy from C$10.00 to C$9.00 in a research note on Thursday, October 9th. Haywood Securities lifted their price target on Birchcliff Energy from C$8.00 to C$10.00 in a research report on Monday, December 22nd. BMO Capital Markets upgraded Birchcliff Energy from a “hold” rating to an “outperform” rating and boosted their price objective for the company from C$7.50 to C$8.50 in a research note on Monday, December 15th. Finally, CIBC raised their target price on shares of Birchcliff Energy from C$8.50 to C$9.50 in a research report on Wednesday, October 15th.

Birchcliff Energy Price Performance

Shares of TSE:BIR opened at C$7.02 on Thursday. Birchcliff Energy has a 12 month low of C$4.89 and a 12 month high of C$8.19. The firm has a market capitalization of C$1.92 billion, a P/E ratio of 26.00, a P/E/G ratio of 0.35 and a beta of -0.08. 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’s fifty day moving average price is C$7.27 and its 200 day moving average price is C$6.71.

Birchcliff Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were paid a dividend of $0.03 per share. The ex-dividend date was Monday, December 15th. This represents a $0.12 dividend on an annualized basis and a yield of 1.7%. Birchcliff Energy’s dividend payout ratio is currently 70.37%.

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.