Birchcliff Energy (TSE:BIR) Price Target Raised to C$10.00

Birchcliff Energy (TSE:BIR) had its price target increased by Haywood Securities from C$8.00 to C$10.00 in a report released on Monday,BayStreet.CA reports.

A number of other analysts have also issued reports on BIR. Scotiabank dropped their price objective on shares of Birchcliff Energy from C$10.00 to C$9.00 in a research note on Thursday, October 9th. National Bankshares reduced their price target 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. CIBC raised their price objective on Birchcliff Energy from C$8.50 to C$9.50 in a research note on Wednesday, October 15th. Finally, BMO Capital Markets raised Birchcliff Energy from a “hold” rating to an “outperform” rating and upped their target price for the company from C$7.50 to C$8.50 in a research report on Monday, December 15th. Four equities research analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. Based on data from MarketBeat, Birchcliff Energy has an average rating of “Buy” and a consensus target price of C$8.44.

Birchcliff Energy Price Performance

BIR stock opened at C$7.45 on Monday. The firm has a market cap of C$2.04 billion, a P/E ratio of 27.59, a price-to-earnings-growth ratio of 0.35 and a beta of 0.09. The company has a debt-to-equity ratio of 27.63, a quick ratio of 0.97 and a current ratio of 1.01. Birchcliff Energy has a 1 year low of C$4.89 and a 1 year high of C$8.19. The stock has a 50-day simple moving average of C$7.05 and a 200-day simple moving average of C$6.71.

Birchcliff Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.03 per share. The ex-dividend date is Monday, December 15th. This represents a $0.12 annualized dividend and a yield of 1.6%. Birchcliff Energy’s dividend payout ratio is presently 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.