Birchcliff Energy (TSE:BIR) Releases Earnings Results

Birchcliff Energy (TSE:BIR) posted its quarterly earnings results on Thursday. The oil and natural gas company reported C$0.04 earnings per share for the quarter, FiscalAI reports. Birchcliff Energy had a return on equity of 4.22% and a net margin of 13.31%. The firm had revenue of C$206.78 million during the quarter.

Birchcliff Energy Stock Performance

Birchcliff Energy stock traded up C$0.08 during mid-day trading on Thursday, reaching C$6.86. 870,411 shares of the stock traded hands, compared to its average volume of 1,458,280. The stock has a market capitalization of C$1.88 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 0.35 and a beta of -0.56. The company has a debt-to-equity ratio of 24.38, a current ratio of 0.99 and a quick ratio of 0.97. Birchcliff Energy has a 12-month low of C$5.72 and a 12-month high of C$8.19. The business’s 50-day moving average is C$6.58 and its 200-day moving average is C$6.61.

Birchcliff Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.12 annualized dividend and a dividend yield of 1.7%. Birchcliff Energy’s payout ratio is presently 34.29%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BIR shares. Raymond James Financial cut shares of Birchcliff Energy from a “moderate buy” rating to a “hold” rating and lowered their target price for the company from C$8.50 to C$8.00 in a research note on Wednesday, September 16th. Ventum Financial set a C$8.00 price target on shares of Birchcliff Energy and gave the stock a “neutral” rating in a research note on Friday, October 23rd. Five research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$8.30.

About Birchcliff Energy

Birchcliff is an intermediate oil and natural gas company based in Calgary, Alberta with operations focused on the exploration and development of the Montney Resource Play in Alberta. Birchcliff’s common shares are listed for trading on the Toronto Stock Exchange under the symbol ‘BIR’.