Birchcliff Energy (TSE:BIR) Price Target Raised to C$8.50

Birchcliff Energy (TSE:BIR) had its target price upped by Raymond James Financial from C$8.00 to C$8.50 in a research report sent to investors on Thursday,BayStreet.CA reports. They currently have an outperform rating on the oil and natural gas company’s stock.

Separately, Scotiabank raised shares of Birchcliff Energy to a “hold” rating in a report on Friday, June 26th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of C$8.67.

Birchcliff Energy Price Performance

BIR stock opened at C$6.39 on Thursday. The company has a debt-to-equity ratio of 24.38, a current ratio of 0.99 and a quick ratio of 0.97. The firm has a market capitalization of C$1.75 billion, a P/E ratio of 18.26, a P/E/G ratio of 0.35 and a beta of -0.57. The business’s 50-day moving average is C$6.37 and its two-hundred day moving average is C$6.64. Birchcliff Energy has a 1 year low of C$5.69 and a 1 year high of C$8.19.

Birchcliff Energy (TSE:BIR) last announced its quarterly earnings data on Wednesday, August 12th. The oil and natural gas company reported C$0.05 earnings per share (EPS) for the quarter. Birchcliff Energy had a return on equity of 4.22% and a net margin of 13.31%.The business had revenue of C$193.41 million during the quarter. Analysts anticipate that Birchcliff Energy will post 0.1118631 earnings per share for the current fiscal year.

Birchcliff Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, June 15th. Birchcliff Energy’s dividend payout ratio is 34.29%.

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.