Birchcliff Energy - BIR Stock Forecast, Price & News

Birchcliff Energy Ltd., an intermediate oil and natural gas company, acquires, explores for, develops, and produces natural gas, light oil, condensate, and natural gas liquids in Western Canada. The company holds interests in the Montney/Doig resource play located approximately 95 km northwest of Grande Prairie, Alberta. Its asset portfolio also includes various other properties, including the Elmworth and Progress areas of Alberta. As of December 31, 2021, the company had interests in various gas plants, oil batteries, compressors, facilities, and infrastructure; and 200,712 net acres of undeveloped land, as well as proved plus probable reserves of 1,022 million barrels of oil equivalent. Birchcliff Energy Ltd. was incorporated in 2004 and is headquartered in Calgary, Canada.

Birchcliff Energy Stock Performance

Birchcliff Energy stock traded up C$0.03 on Friday, reaching C$10.33. 1,046,532 shares of the stock were exchanged, compared to its average volume of 2,000,786. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 22.05. Birchcliff Energy has a twelve month low of C$4.32 and a twelve month high of C$12.48. The firm has a fifty day moving average price of C$9.58 and a two-hundred day moving average price of C$8.80. The stock has a market cap of C$2.73 billion and a PE ratio of 6.82.

Birchcliff Energy (TSE:BIR - Get Rating) last posted its quarterly earnings data on Wednesday, May 11th. The oil and natural gas company reported C$0.46 EPS for the quarter, topping analysts' consensus estimates of C$0.37 by C$0.09. The business had revenue of C$285.98 million during the quarter, compared to the consensus estimate of C$273.30 million. Sell-side analysts anticipate that Birchcliff Energy will post 1.6 EPS for the current year.

Birchcliff Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Thursday, June 30th were given a $0.02 dividend. This is an increase from Birchcliff Energy's previous quarterly dividend of $0.01. This represents a $0.08 annualized dividend and a yield of 0.77%. The ex-dividend date was Tuesday, June 14th. Birchcliff Energy's payout ratio is currently 1.99%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BIR shares. National Bankshares cut their price target on Birchcliff Energy from C$15.00 to C$13.50 and set an "outperform" rating for the company in a research note on Monday, July 18th. Stifel Nicolaus reduced their target price on shares of Birchcliff Energy from C$12.25 to C$11.25 in a research note on Monday, July 4th. Scotiabank boosted their target price on shares of Birchcliff Energy from C$13.00 to C$14.00 in a research report on Thursday, July 14th. CIBC cut their price target on shares of Birchcliff Energy from C$15.00 to C$12.00 in a report on Wednesday, July 13th. Finally, Cormark lifted their price objective on shares of Birchcliff Energy from C$16.00 to C$17.00 in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of C$11.38.

Insider Transactions at Birchcliff Energy

In other Birchcliff Energy news, Senior Officer David Humphreys sold 25,000 shares of the stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of C$11.03, for a total value of C$275,750.00. In other Birchcliff Energy news, Senior Officer Christopher Andrew Carlsen sold 100,000 shares of the firm's stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of C$12.16, for a total value of C$1,216,250.00. Also, Senior Officer David Humphreys sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of C$11.03, for a total value of C$275,750.00. Insiders sold a total of 425,000 shares of company stock worth $5,059,000 over the last three months.