Birchcliff Energy (TSE:BIR) Cut to Hold at Raymond James Financial

Raymond James Financial cut shares of Birchcliff Energy (TSE:BIR) from a moderate buy rating to a hold rating in a research note issued to investors on Wednesday morning, MarketBeat reports. Raymond James Financial currently has C$8.00 price objective on the oil and natural gas company’s stock, down from their previous price objective of C$8.50.

Separately, Scotiabank raised Birchcliff Energy to a “hold” rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$8.58.

Birchcliff Energy Price Performance

TSE:BIR opened at C$6.29 on Wednesday. Birchcliff Energy has a one year low of C$5.69 and a one year high of C$8.19. The company has a debt-to-equity ratio of 24.38, a quick ratio of 0.97 and a current ratio of 0.99. The stock has a market cap of C$1.73 billion, a PE ratio of 17.97, a P/E/G ratio of 0.35 and a beta of -0.52. The stock has a 50 day moving average price of C$6.39 and a 200 day moving average price of C$6.54.

Birchcliff Energy (TSE:BIR) last posted its earnings results on Wednesday, August 12th. The oil and natural gas company reported C$0.05 EPS for the quarter. Birchcliff Energy had a return on equity of 4.22% and a net margin of 13.31%.The company had revenue of C$193.41 million for the quarter. Equities research analysts expect that Birchcliff Energy will post 0.1118631 EPS for the current fiscal year.

Birchcliff Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.12 annualized dividend and a yield of 1.9%. Birchcliff Energy’s dividend payout ratio (DPR) is 34.29%.

About Birchcliff Energy

Birchcliff is an intermediate oil and natural gas company based in Calgary, Alberta with operations focused on the exploration and development of the Montney Resource Play in Alberta. Birchcliff’s common shares are listed for trading on the Toronto Stock Exchange under the symbol ‘BIR’.