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

Shares of Birchcliff Energy Ltd. (TSE:BIR) have earned an average rating of “Buy” from the ten brokerages that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is C$8.33.

BIR has been the subject of several research analyst reports. Haywood Securities boosted their price objective on Birchcliff Energy from C$8.00 to C$10.00 in a report on Monday, December 22nd. CIBC downgraded Birchcliff Energy from an “outperform” rating to a “neutral” rating and lowered their price target for the company from C$9.50 to C$8.50 in a report on Tuesday, January 13th. BMO Capital Markets raised Birchcliff Energy from a “hold” rating to an “outperform” rating and upped their price target for the company from C$7.50 to C$8.50 in a research report on Monday, December 15th. Cibc Captl Mkts downgraded shares of Birchcliff Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 13th. Finally, Scotiabank lowered their target price on shares of Birchcliff Energy from C$10.00 to C$9.00 in a research note on Thursday, October 9th.

Birchcliff Energy Price Performance

BIR opened at C$7.30 on Monday. The company has a market capitalization of C$2.01 billion, a P/E ratio of 27.04, a PEG ratio of 0.35 and a beta of -0.08. The company has a 50-day moving average of C$7.34 and a 200-day moving average of C$6.69. The company has a debt-to-equity ratio of 27.63, a quick ratio of 0.97 and a current ratio of 1.01. Birchcliff Energy has a 1-year low of C$4.89 and a 1-year high of C$8.19.

Birchcliff Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, December 15th. Birchcliff Energy’s dividend payout ratio is currently 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. To get the full value out of its natural gas wells, several gas plants are completely owned and operated for gas processing purposes.