Canaccord Genuity Group Raises Birchcliff Energy (TSE:BIR) Price Target to C$5.50

Birchcliff Energy (TSE:BIR - Free Report) had its price objective increased by Canaccord Genuity Group from C$5.25 to C$5.50 in a research report report published on Wednesday, BayStreet.CA reports. The brokerage currently has a hold rating on the oil and natural gas company's stock.

Several other brokerages also recently commented on BIR. BMO Capital Markets increased their target price on shares of Birchcliff Energy from C$5.25 to C$5.50 in a report on Thursday, March 28th. CIBC increased their target price on shares of Birchcliff Energy from C$5.00 to C$5.75 in a report on Thursday, March 14th. ATB Capital lowered their target price on shares of Birchcliff Energy from C$8.00 to C$7.50 in a report on Thursday, February 15th. TD Securities lowered their target price on shares of Birchcliff Energy from C$6.00 to C$5.50 and set a hold rating for the company in a report on Thursday, January 18th. Finally, Raymond James downgraded shares of Birchcliff Energy from an outperform rating to a market perform rating and lowered their target price for the company from C$11.50 to C$9.00 in a report on Friday, January 19th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Birchcliff Energy has an average rating of Hold and a consensus price target of C$6.36.

Birchcliff Energy Stock Up 4.5 %

BIR traded up C$0.24 during trading on Wednesday, hitting C$5.56. 2,716,350 shares of the company's stock were exchanged, compared to its average volume of 1,637,629. 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 business's 50 day moving average is C$5.37 and its two-hundred day moving average is C$6.10. Birchcliff Energy has a fifty-two week low of C$4.61 and a fifty-two week high of C$8.68. The stock has a market cap of C$1.49 billion, a P/E ratio of 139.00, a PEG ratio of 0.35 and a beta of 2.04.

Birchcliff Energy (TSE:BIR - Get Free Report) last released its quarterly earnings data 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). Birchcliff Energy had a return on equity of 0.42% and a net margin of 1.40%. The business had revenue of C$183.30 million for the quarter. As a group, equities analysts expect that Birchcliff Energy will post 0.0898464 earnings per share for the current fiscal year.

Birchcliff Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 7.19%. Birchcliff Energy's dividend payout ratio (DPR) is presently 1,000.00%.

Insider Buying and Selling

In related news, Senior Officer Christopher Andrew Carlsen sold 200,000 shares of the firm's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of C$5.00, for a total transaction of C$1,000,000.00. 1.50% of the stock is currently owned by corporate insiders.

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.