Birchcliff Energy (TSE:BIR) Releases Earnings Results

Birchcliff Energy (TSE:BIR) released its quarterly earnings data on Wednesday. The oil and natural gas company reported C$0.10 earnings per share for the quarter, FiscalAI reports. Birchcliff Energy had a return on equity of 0.70% and a net margin of 2.04%.The company had revenue of C$164.42 million for the quarter.

Birchcliff Energy Stock Performance

BIR traded up C$0.10 on Wednesday, hitting C$7.20. The company’s stock had a trading volume of 1,438,961 shares, compared to its average volume of 1,106,940. The company’s 50 day simple moving average is C$7.29 and its 200-day simple moving average is C$6.72. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 27.63. Birchcliff Energy has a 12 month low of C$4.89 and a 12 month high of C$8.19. The firm has a market cap of C$1.98 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 0.35 and a beta of 0.07.

Birchcliff Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, December 15th. Birchcliff Energy’s payout ratio is 70.37%.

Analyst Ratings Changes

Several research firms recently commented on BIR. National Bankshares decreased their price target on shares of Birchcliff Energy from C$9.25 to C$9.00 and set an “outperform” rating for the company in a research note on Wednesday, October 22nd. Haywood Securities boosted their target price on Birchcliff Energy from C$8.00 to C$10.00 in a research report on Monday, December 22nd. BMO Capital Markets upgraded Birchcliff Energy from a “hold” rating to an “outperform” rating and increased their price target for the stock from C$7.50 to C$8.50 in a report on Monday, December 15th. Finally, Canadian Imperial Bank of Commerce cut Birchcliff Energy from an “outperform” rating to a “hold” rating and reduced their price objective for the company from C$9.50 to C$8.50 in a research note on Tuesday, January 13th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$8.50.

About Birchcliff Energy

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.