Birchcliff Energy (TSE:BIR) Releases Earnings Results

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

Birchcliff Energy Stock Up 1.4%

Shares of TSE BIR opened at C$7.20 on Thursday. The stock has a market capitalization of C$1.98 billion, a P/E ratio of 26.67, a PEG ratio of 0.35 and a beta of 0.07. The stock’s fifty day moving average is C$7.28 and its 200 day moving average is C$6.73. Birchcliff Energy has a 52 week low of C$4.89 and a 52 week high of C$8.19. 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 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 given a $0.03 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.7%. Birchcliff Energy’s dividend payout ratio (DPR) is presently 70.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BIR shares. Canadian Imperial Bank of Commerce cut Birchcliff Energy from an “outperform” rating to a “hold” rating and reduced their price objective for the stock from C$9.50 to C$8.50 in a report on Tuesday, January 13th. BMO Capital Markets upgraded Birchcliff Energy from a “hold” rating to an “outperform” rating and boosted their price target for the company from C$7.50 to C$8.50 in a research note on Monday, December 15th. Haywood Securities increased their price objective on Birchcliff Energy from C$8.00 to C$10.00 in a research report on Monday, December 22nd. Finally, National Bank Financial dropped their target price 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. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price 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.