Birchcliff Energy (TSE:BIR) Given New C$5.50 Price Target at Canaccord Genuity Group

Birchcliff Energy (TSE:BIR) had its price target upped by Canaccord Genuity Group from C$5.25 to C$5.50 in a research note released on Wednesday, BayStreet.CA reports. Canaccord Genuity Group currently has a hold rating on the oil and natural gas company’s stock.

Several other equities analysts have also weighed in on the stock. ATB Capital reduced their target price on shares of Birchcliff Energy from C$8.00 to C$7.50 in a report on Thursday, February 15th. BMO Capital Markets lifted their target price on shares of Birchcliff Energy from C$5.25 to C$5.50 in a report on Thursday, March 28th. Stifel Nicolaus dropped their price target on shares of Birchcliff Energy from C$6.50 to C$5.00 and set a hold rating on the stock in a research note on Thursday, January 18th. CIBC lifted their price target on shares of Birchcliff Energy from C$5.00 to C$5.75 in a research note on Thursday, March 14th. Finally, Raymond James downgraded shares of Birchcliff Energy from an outperform rating to a market perform rating and dropped their price target for the stock from C$11.50 to C$9.00 in a research note on Friday, January 19th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Birchcliff Energy has a consensus rating of Hold and a consensus target price of C$6.36.

Birchcliff Energy Stock Performance

TSE:BIR opened at C$5.65 on Wednesday. The firm’s 50 day moving average is C$5.38 and its two-hundred day moving average is C$6.09. Birchcliff Energy has a fifty-two week low of C$4.61 and a fifty-two week high of C$8.68. The company has a quick ratio of 0.97, a current ratio of 0.91 and a debt-to-equity ratio of 17.29. The company has a market cap of C$1.52 billion, a P/E ratio of 141.25, a P/E/G ratio of 0.35 and a beta of 2.04.

Birchcliff Energy (TSE:BIR) last posted its earnings results on Wednesday, February 14th. The oil and natural gas company reported C($0.02) earnings per share for the quarter, missing the consensus estimate of C$0.07 by C($0.09). The business had revenue of C$183.30 million for the quarter. Birchcliff Energy had a net margin of 1.40% and a return on equity of 0.42%. Analysts expect that Birchcliff Energy will post 0.0898464 EPS for the current year.

Birchcliff Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 28th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 7.08%. The ex-dividend date of this dividend was Thursday, March 14th. Birchcliff Energy’s payout ratio is currently 1,000.00%.

Insider Transactions at Birchcliff Energy

In other news, Senior Officer Christopher Andrew Carlsen sold 200,000 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of C$5.00, for a total value of C$1,000,000.00. Insiders own 1.50% of the company’s stock.

About Birchcliff Energy

Birchcliff Energy Ltd., an intermediate oil and natural gas company, explores for, develops, and produces natural gas, light oil, condensate, and other natural gas liquids in Western Canada. The company holds interests in the areas of Montney/Doig Resource Play, including the Pouce Coupe and Gordondale properties in Alberta.