Birchcliff Energy (TSE:BIR) Price Target Raised to C$7.50

Birchcliff Energy (TSE:BIR) had its price objective increased by Scotiabank from C$7.00 to C$7.50 in a research report sent to investors on Friday, BayStreet.CA reports.

Several other research analysts have also recently weighed in on the stock. BMO Capital Markets increased their price target on shares of Birchcliff Energy from C$6.00 to C$6.50 in a report on Wednesday, July 3rd. CIBC increased their price target on shares of Birchcliff Energy from C$5.00 to C$5.75 in a report on Thursday, March 14th. Finally, Canaccord Genuity Group increased their price target on shares of Birchcliff Energy from C$5.50 to C$6.00 and gave the company a hold rating in a report on Wednesday, June 5th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Birchcliff Energy has a consensus rating of Hold and a consensus target price of C$6.63.

Birchcliff Energy Trading Down 0.2 %

Shares of TSE:BIR opened at C$6.39 on Friday. The company has a market capitalization of C$1.72 billion, a P/E ratio of 45.64, a price-to-earnings-growth ratio of 0.35 and a beta of 2.01. The company has a debt-to-equity ratio of 20.12, a quick ratio of 0.97 and a current ratio of 0.73. Birchcliff Energy has a 52-week low of C$4.61 and a 52-week high of C$8.68. The company has a 50-day simple moving average of C$6.05 and a 200 day simple moving average of C$5.64.

Birchcliff Energy (TSE:BIR) last released its quarterly earnings results on Wednesday, May 15th. The oil and natural gas company reported C($0.06) earnings per share for the quarter, missing the consensus estimate of C($0.01) by C($0.05). The company had revenue of C$163.30 million during the quarter. Birchcliff Energy had a net margin of 5.57% and a return on equity of 1.65%. Sell-side analysts forecast that Birchcliff Energy will post 0.0911973 earnings per share for the current year.

Birchcliff Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 28th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.40 annualized dividend and a dividend yield of 6.26%. Birchcliff Energy’s dividend payout ratio is presently 285.71%.

Insider Transactions at Birchcliff Energy

In other news, Senior Officer Robyn Bourgeois sold 33,333 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$6.22, for a total transaction of C$207,404.59. In other Birchcliff Energy news, Senior Officer Hue Tran sold 30,000 shares of the business’s 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. Also, Senior Officer Robyn Bourgeois sold 33,333 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$6.22, for a total transaction of C$207,404.59. Insiders own 1.56% 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.