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

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

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

Birchcliff Energy Price Performance

BIR stock opened at C$5.43 on Monday. The stock has a market cap of C$1.46 billion, a PE ratio of 33.94, a P/E/G ratio of 0.35 and a beta of 1.95. Birchcliff Energy has a 12 month low of C$4.61 and a 12 month high of C$8.11. The company has a 50-day moving average price of C$5.88 and a 200 day moving average price of C$5.81. The company has a current ratio of 1.52, a quick ratio of 0.97 and a debt-to-equity ratio of 22.26.

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 (EPS) 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 year.

Birchcliff Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 7.37%. The ex-dividend date of this dividend is Friday, September 13th. Birchcliff Energy’s payout ratio is 250.00%.

Insider Activity

In other news, Senior Officer Hue Tran sold 30,000 shares of the stock in a transaction that occurred on Thursday, July 4th. The shares were sold at an average price of C$6.32, for a total transaction of C$189,609.00. Company insiders own 1.55% of the company’s stock.

Birchcliff Energy Company Profile

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.