CIBC Cuts Birchcliff Energy (TSE:BIR) Price Target to C$4.00

Birchcliff Energy (TSE:BIR) had its price target lowered by CIBC from C$5.75 to C$4.00 in a research note released on Thursday, BayStreet.CA reports.

Other equities analysts also recently issued research reports about the stock. GMP Securities reissued a buy rating and issued a $22.25 target price on shares of SPDR Wells Fargo Preferred Stock ETF in a research note on Friday, June 28th. Canaccord Genuity raised shares of Nuvista Energy to a buy rating in a research note on Tuesday, April 9th. National Bank Financial cut their target price on shares of Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating on the stock in a research note on Tuesday, June 25th. Finally, Raymond James set a C$3.50 target price on shares of StorageVault Canada and gave the company a strong-buy rating in a research note on Thursday, May 16th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of C$5.69.

TSE:BIR opened at C$2.99 on Thursday. The company has a debt-to-equity ratio of 37.93, a quick ratio of 0.63 and a current ratio of 0.81. The stock has a market capitalization of $795.11 million and a P/E ratio of 7.97. Birchcliff Energy has a fifty-two week low of C$2.54 and a fifty-two week high of C$5.45. The stock’s 50 day moving average is C$2.79.

Birchcliff Energy (TSE:BIR) last posted its quarterly earnings results on Wednesday, May 15th. The oil and natural gas company reported C$0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.15 by C$0.02. The company had revenue of C$178.36 million for the quarter, compared to analysts’ expectations of C$178.10 million. As a group, research analysts anticipate that Birchcliff Energy will post 0.33 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Tuesday, July 2nd were paid a $0.0262 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date was Friday, June 14th. Birchcliff Energy’s dividend payout ratio is presently 27.00%.

About Birchcliff Energy

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

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Analyst Recommendations for Birchcliff Energy (TSE:BIR)

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