Birchcliff Energy Ltd. (TSE:BIR) Announces $0.03 Quarterly Dividend

Key Points

• Birchcliff Energy declared a C$0.03 quarterly dividend, payable September 29 to shareholders of record that day. The dividend carries an annualized yield of approximately 1.9%.
• Shares recently traded at C$6.32, near the lower end of their C$5.69–C$8.19 52-week range. The company reported C$0.05 in quarterly earnings per share on C$193.41 million in revenue.
• Analysts maintain a consensus “Hold” rating, with an average price target of C$8.67; Raymond James raised its target to C$8.50 and rated the stock “Outperform.”

Birchcliff Energy Ltd. (TSE:BIR - Get Free Report) declared a quarterly dividend on Tuesday, September 15th. Shareholders of record on Tuesday, September 29th will be paid a dividend of 0.03 per share by the oil and natural gas company on Tuesday, September 29th. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 15th.

Birchcliff Energy Stock Performance

Shares of Birchcliff Energy stock traded down C$0.07 during trading hours on Friday, reaching C$6.32. 1,056,934 shares of the stock traded hands, compared to its average volume of 1,443,702. Birchcliff Energy has a one year low of C$5.69 and a one year high of C$8.19. The firm has a market capitalization of C$1.73 billion, a price-to-earnings ratio of 18.06, a P/E/G ratio of 0.35 and a beta of -0.52. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 24.38. The company has a 50 day moving average price of C$6.39 and a 200 day moving average price of C$6.55.

Birchcliff Energy (TSE:BIR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The oil and natural gas company reported C$0.05 earnings per share for the quarter. The firm had revenue of C$193.41 million for the quarter. Birchcliff Energy had a net margin of 13.31% and a return on equity of 4.22%. On average, equities research analysts expect that Birchcliff Energy will post 0.1118631 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BIR shares. Raymond James Financial lifted their price target on shares of Birchcliff Energy from C$8.00 to C$8.50 and gave the stock an "outperform" rating in a research note on Thursday, August 13th. Scotiabank upgraded shares of Birchcliff Energy to a "hold" rating in a research note on Friday, June 26th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of C$8.67.

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'.

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