Birchcliff Energy (TSE:BIR) Upgraded to Strong-Buy at Cormark

Cormark upgraded shares of Birchcliff Energy (TSE:BIR) to a strong-buy rating in a research report sent to investors on Monday, Zacks.com reports.

A number of other brokerages also recently issued reports on BIR. Canaccord Genuity Group boosted their price objective on shares of Birchcliff Energy from C$6.00 to C$6.50 in a research report on Thursday, August 15th. BMO Capital Markets boosted their price objective on shares of Birchcliff Energy from C$6.00 to C$6.50 in a research note on Wednesday, July 3rd. Finally, Scotiabank upped their price target on shares of Birchcliff Energy from C$7.00 to C$7.50 in a research note on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of C$6.68.

Birchcliff Energy Price Performance

Shares of Birchcliff Energy stock opened at C$5.69 on Monday. The stock has a market capitalization of C$1.53 billion, a P/E ratio of 35.56, a price-to-earnings-growth ratio of 0.35 and a beta of 1.95. The company has a debt-to-equity ratio of 22.26, a current ratio of 1.52 and a quick ratio of 0.97. The business’s 50 day simple moving average is C$5.91 and its two-hundred day simple moving average is C$5.81. Birchcliff Energy has a one year low of C$4.61 and a one year high of C$8.11.

Birchcliff Energy (TSE:BIR) last posted its earnings results on Wednesday, August 14th. The oil and natural gas company reported C$0.17 earnings per share for the quarter, topping analysts’ consensus estimates of C($0.01) by C$0.18. The company had revenue of C$146.98 million during the quarter. Birchcliff Energy had a net margin of 6.24% and a return on equity of 1.81%. Analysts forecast that Birchcliff Energy will post 0.106975 EPS for the current year.

Birchcliff Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a yield of 7.03%. Birchcliff Energy’s dividend payout ratio is currently 250.00%.

Insider Buying and Selling at Birchcliff Energy

In other news, Senior Officer Hue Tran sold 30,000 shares of the firm’s stock in a transaction dated Thursday, July 4th. The stock was sold at an average price of C$6.32, for a total value of C$189,609.00. 1.55% of the stock is currently owned by corporate insiders.

About Birchcliff Energy

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.