Birchcliff Energy Ltd. (TSE:BIR) Receives Consensus Recommendation of “Buy” from Brokerages

Birchcliff Energy Ltd. (TSE:BIR) has received an average rating of “Buy” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a buy recommendation and four have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is C$8.44.

A number of equities research analysts have recently issued reports on BIR shares. CIBC increased their price target on shares of Birchcliff Energy from C$8.50 to C$9.50 in a report on Wednesday, October 15th. Haywood Securities raised their target price on shares of Birchcliff Energy from C$8.00 to C$10.00 in a research report on Monday, December 22nd. National Bankshares reduced their price target on Birchcliff Energy from C$9.25 to C$9.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. Scotiabank lowered their price objective on Birchcliff Energy from C$10.00 to C$9.00 in a research note on Thursday, October 9th. Finally, BMO Capital Markets raised shares of Birchcliff Energy from a “hold” rating to an “outperform” rating and increased their price objective for the stock from C$7.50 to C$8.50 in a research note on Monday, December 15th.

Birchcliff Energy Stock Performance

TSE BIR opened at C$7.23 on Thursday. The firm has a market cap of C$1.98 billion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 0.35 and a beta of -0.08. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 27.63. The company’s 50 day moving average is C$7.24 and its 200-day moving average is C$6.71. Birchcliff Energy has a 12-month low of C$4.89 and a 12-month high of C$8.19.

Birchcliff Energy Announces Dividend

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

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.