Birchcliff Energy Ltd. (BIR) Receives C$6.61 Average Price Target from Brokerages

Birchcliff Energy Ltd. (TSE:BIR) has been given a consensus rating of “Buy” by the ten ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is C$6.61.

Several equities analysts recently weighed in on the stock. Scotiabank lifted their target price on shares of Birchcliff Energy from C$8.00 to C$8.50 and gave the company an “outperform” rating in a report on Wednesday, April 4th. Raymond James Financial boosted their price objective on shares of Birchcliff Energy from C$5.25 to C$6.25 and gave the stock an “outperform” rating in a report on Wednesday, April 4th. BMO Capital Markets boosted their price objective on shares of Birchcliff Energy from C$3.50 to C$4.00 and gave the stock a “market perform” rating in a report on Wednesday, April 4th. Eight Capital boosted their price objective on shares of Birchcliff Energy from C$5.00 to C$5.35 in a report on Wednesday, April 4th. Finally, TD Securities upgraded shares of Birchcliff Energy from a “buy” rating to an “action list buy” rating and cut their price objective for the stock from C$8.50 to C$6.00 in a report on Thursday, March 22nd.

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Shares of TSE:BIR traded up C$0.06 during midday trading on Wednesday, hitting C$4.21. 369,308 shares of the company’s stock traded hands, compared to its average volume of 2,465,627. Birchcliff Energy has a twelve month low of C$2.90 and a twelve month high of C$7.98.

Birchcliff Energy (TSE:BIR) last posted its earnings results on Wednesday, February 14th. The oil and natural gas company reported C$0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.15 by C($0.06). The business had revenue of C$166.15 million for the quarter, compared to analyst estimates of C$175.40 million. Birchcliff Energy had a negative net margin of 112.10% and a negative return on equity of 28.79%.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Monday, April 2nd were issued a $0.025 dividend. The ex-dividend date was Wednesday, March 14th. This represents a $0.10 dividend on an annualized basis and a yield of 2.38%.

In other news, insider David Humphreys acquired 16,000 shares of the business’s stock in a transaction on Monday, March 12th. The shares were purchased at an average price of C$3.04 per share, for a total transaction of C$48,640.00. Insiders acquired a total of 33,125 shares of company stock worth $147,208 in the last quarter.

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About Birchcliff Energy

Birchcliff Energy Ltd., an intermediate oil and gas company, explores for, develops, and produces natural gas, light oil, and natural gas liquids in Western Canada. The company holds interests in the Montney/Doig resource play, as well as other natural gas, crude oil, and natural gas liquids assets located in the Peace River Arch area of Alberta.

Analyst Recommendations for Birchcliff Energy (TSE:BIR)

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