Royal Bank of Canada Trims Birchcliff Energy (OTCMKTS:BIREF) Target Price to C$12.00

Birchcliff Energy (OTCMKTS:BIREF – Get Rating) had its price objective decreased by Royal Bank of Canada from C$14.00 to C$12.00 in a report published on Thursday, The Fly reports.

A number of other brokerages have also weighed in on BIREF. Maxim Group assumed coverage on shares of Birchcliff Energy in a report on Thursday, December 15th. They issued a buy rating and a C$14.75 price target for the company. Scotiabank cut shares of Birchcliff Energy from an outperform rating to a sector perform rating in a research note on Tuesday, January 17th. CIBC reduced their price objective on shares of Birchcliff Energy from C$12.75 to C$10.50 in a research note on Tuesday, January 17th. Stifel Nicolaus reduced their price objective on shares of Birchcliff Energy from C$9.75 to C$9.00 in a research note on Thursday, January 19th. Finally, National Bank Financial reduced their price objective on shares of Birchcliff Energy from C$12.00 to C$11.00 in a research note on Thursday.

Birchcliff Energy Stock Performance

Shares of Birchcliff Energy stock opened at $5.72 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.58 and a quick ratio of 1.58. The firm has a market cap of $1.53 billion, a P/E ratio of 3.13 and a beta of 0.93. The firm has a 50 day simple moving average of $6.34 and a 200 day simple moving average of $7.18. Birchcliff Energy has a fifty-two week low of $5.45 and a fifty-two week high of $9.96.

Birchcliff Energy (OTCMKTS:BIREF – Get Rating) last issued its quarterly earnings results on Wednesday, February 15th. The company reported $0.19 earnings per share for the quarter. The business had revenue of $235.98 million during the quarter. Birchcliff Energy had a net margin of 49.27% and a return on equity of 29.77%.

Birchcliff Energy Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be given a dividend of $0.1492 per share. This represents a dividend yield of 9.46%. This is a boost from Birchcliff Energy’s previous dividend of $0.01. The ex-dividend date is Tuesday, March 14th. Birchcliff Energy’s dividend payout ratio (DPR) is currently 32.24%.

About Birchcliff Energy

(Get Rating)

Birchcliff Energy Ltd. engages in the exploration, development, production, and acquisition of petroleum and natural gas reserves. Its properties include Peace River Arch and Montney/Doig Resource Play. The company was founded by Myles R. Bosman, Gordon W. Cameron, Bruno P. Geremia, Laurence A. Shaw, Werner A.