Birchcliff Energy (TSE:BIR) Lifted to “Strong-Buy” at Cormark

Cormark upgraded shares of Birchcliff Energy (TSE:BIR) to a strong-buy rating in a report issued on Monday morning, Zacks.com reports.

Other research analysts have also issued research reports about the stock. Scotiabank lifted their price target on shares of Birchcliff Energy from C$7.00 to C$7.50 in a research report on Friday, July 12th. Canaccord Genuity Group lifted their target price on Birchcliff Energy from C$6.00 to C$6.50 in a report on Thursday, August 15th. Finally, BMO Capital Markets increased their price target on Birchcliff Energy from C$6.00 to C$6.50 in a research report on Wednesday, July 3rd. Seven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Birchcliff Energy presently has a consensus rating of Hold and an average target price of C$6.68.

Birchcliff Energy Price Performance

Shares of TSE:BIR opened at C$5.51 on Monday. The stock has a market cap of C$1.48 billion, a price-to-earnings ratio of 34.44, a PEG ratio of 0.35 and a beta of 1.95. The company has a debt-to-equity ratio of 22.26, a current ratio of 1.52 and a quick ratio of 0.97. Birchcliff Energy has a 12 month low of C$4.61 and a 12 month high of C$8.11. The stock’s 50 day moving average price is C$5.90 and its 200 day moving average price is C$5.81.

Birchcliff Energy (TSE:BIR) last announced its earnings results on Wednesday, August 14th. The oil and natural gas company reported C$0.17 earnings per share for the quarter, beating the consensus estimate of C($0.01) by C$0.18. Birchcliff Energy had a return on equity of 1.81% and a net margin of 6.24%. The business had revenue of C$146.98 million during the quarter. Equities research analysts anticipate that Birchcliff Energy will post 0.106975 earnings per share for the current fiscal year.

Birchcliff Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.40 annualized dividend and a dividend yield of 7.26%. Birchcliff Energy’s dividend payout ratio is 250.00%.

Insider Activity at Birchcliff Energy

In other Birchcliff Energy news, Senior Officer Hue Tran sold 30,000 shares of the company’s stock in a transaction dated Thursday, July 4th. The stock was sold at an average price of C$6.32, for a total value of C$189,609.00. Insiders own 1.55% of the company’s stock.

About Birchcliff Energy

Birchcliff Energy Ltd., an intermediate oil and natural gas company, explores for, develops, and produces natural gas, light oil, condensate, and other natural gas liquids in Western Canada. The company holds interests in the areas of Montney/Doig Resource Play, including the Pouce Coupe and Gordondale properties in Alberta.