Birchcliff Energy Ltd. (TSE:BIR) Receives Consensus Recommendation of “Buy” from Brokerages

Birchcliff Energy Ltd. (TSE:BIR) has been assigned a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is C$8.33.

Several equities analysts have recently issued reports on the stock. CIBC downgraded shares of Birchcliff Energy from an “outperform” rating to a “neutral” rating and reduced their price target for the company from C$9.50 to C$8.50 in a report on Tuesday, January 13th. Haywood Securities lifted their price objective on shares of Birchcliff Energy from C$8.00 to C$10.00 in a research report on Monday, December 22nd. BMO Capital Markets upgraded shares of Birchcliff Energy from a “hold” rating to an “outperform” rating and upped their target price for the stock from C$7.50 to C$8.50 in a research report on Monday, December 15th. National Bankshares dropped their price target on shares of Birchcliff Energy from C$9.25 to C$9.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. Finally, Scotiabank cut their price target on Birchcliff Energy from C$10.00 to C$9.00 in a report on Thursday, October 9th.

Birchcliff Energy Trading Up 2.5%

TSE:BIR opened at C$7.30 on Monday. The firm has a market capitalization of C$2.01 billion, a P/E ratio of 27.04, a P/E/G ratio of 0.35 and a beta of -0.08. The business has a 50 day simple moving average of C$7.34 and a 200 day simple moving average of C$6.69. 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 12-month low of C$4.89 and a 12-month high of C$8.19.

Birchcliff Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders 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 yield of 1.6%. The ex-dividend date was Monday, December 15th. Birchcliff Energy’s payout ratio is 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.