Birchcliff Energy (TSE:BIR) Cut to Hold at Cibc Captl Mkts

Cibc Captl Mkts lowered shares of Birchcliff Energy (TSE:BIR) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

Several other equities analysts have also issued reports on the stock. BMO Capital Markets raised shares of Birchcliff Energy from a “hold” rating to an “outperform” rating and boosted their price target for the company from C$7.50 to C$8.50 in a report on Monday, December 15th. Haywood Securities raised their price objective on shares of Birchcliff Energy from C$8.00 to C$10.00 in a report on Monday, December 22nd. CIBC lowered shares of Birchcliff Energy from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from C$9.50 to C$8.50 in a research note on Tuesday. National Bankshares lowered their target price on Birchcliff Energy from C$9.25 to C$9.00 and set an “outperform” rating for the company in a report on Wednesday, October 22nd. Finally, Scotiabank reduced their price objective on Birchcliff Energy from C$10.00 to C$9.00 in a research report on Thursday, October 9th. Four analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$8.33.

Birchcliff Energy Stock Performance

Shares of TSE:BIR opened at C$6.83 on Tuesday. The company has a market capitalization of C$1.87 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 0.35 and a beta of -0.08. The firm’s 50 day simple moving average is C$7.32 and its 200 day simple moving average is C$6.70. The company has a debt-to-equity ratio of 27.63, a current ratio of 1.01 and a quick ratio of 0.97. Birchcliff Energy has a fifty-two week low of C$4.89 and a fifty-two week high of C$8.19.

Birchcliff Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders 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 dividend yield of 1.8%. 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.