Birchcliff Energy (OTCMKTS:BIREF) Releases Quarterly Earnings Results, Misses Estimates By $0.12 EPS

Key Points

• Birchcliff Energy reported a quarterly EPS of ($0.04) and maintained a return on equity of 6.09% along with a net margin of 21.85%.
• The company announced a dividend increase to $0.0215 per share with a yield of 168%, highlighting a solid dividend payout ratio of 25.71%.
• Several analysts upgraded Birchcliff Energy's stock rating, now holding a consensus rating of "Strong Buy" with two buy ratings and six strong buy ratings.

Birchcliff Energy (OTCMKTS:BIREF - Get Free Report) announced its earnings results on Wednesday. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.12), Zacks reports. Birchcliff Energy had a net margin of 11.60% and a return on equity of 3.35%. The firm had revenue of $123.78 million for the quarter, compared to the consensus estimate of $131.37 million.

Birchcliff Energy Price Performance

Shares of Birchcliff Energy stock traded up $0.02 during mid-day trading on Monday, reaching $4.50. 8,240 shares of the stock were exchanged, compared to its average volume of 82,525. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 23.69 and a beta of 0.59. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.23. The firm has a 50-day simple moving average of $5.08 and a 200 day simple moving average of $4.56. Birchcliff Energy has a fifty-two week low of $3.15 and a fifty-two week high of $5.71.

Birchcliff Energy Increases Dividend

The business also recently disclosed a dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $0.0215 per share. This is an increase from Birchcliff Energy's previous dividend of $0.02. This represents a yield of 168.0%. The ex-dividend date was Friday, June 13th. Birchcliff Energy's dividend payout ratio is currently 47.37%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Raymond James Financial upgraded shares of Birchcliff Energy from a "hold" rating to an "outperform" rating in a report on Thursday. National Bankshares reaffirmed an "outperform" rating on shares of Birchcliff Energy in a research note on Thursday, May 15th. ATB Capital raised Birchcliff Energy to an "outperform" rating in a research report on Thursday. Finally, Atb Cap Markets raised Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a research report on Thursday. Three research analysts have rated the stock with a buy rating and seven have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Strong Buy".

Birchcliff Energy Company Profile

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.