Canaccord Genuity Group upgraded shares of Birchcliff Energy (TSE:BIR – Free Report) from a hold rating to a buy rating in a report published on Thursday, Marketbeat reports. They currently have C$7.00 price objective on the oil and natural gas company’s stock, up from their prior price objective of C$6.00.
Several other research firms have also weighed in on BIR. Scotiabank upgraded Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a report on Friday, January 17th. National Bank Financial upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Canaccord Genuity Group reduced their target price on Birchcliff Energy from C$6.00 to C$5.75 in a report on Friday, November 15th. National Bankshares set a C$8.00 target price on Birchcliff Energy and gave the stock an “outperform” rating in a report on Thursday. Finally, TD Securities upgraded Birchcliff Energy from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$5.50 to C$7.00 in a report on Thursday, January 30th. One research analyst has rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$7.04.
Birchcliff Energy Stock Up 0.2 %
Birchcliff Energy Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, March 14th. Birchcliff Energy’s dividend payout ratio is presently 700.63%.
Birchcliff Energy Company Profile
Birchcliff Energy Ltd is an intermediate oil and gas company that explores for, develops, and produces natural gas, light oil, and natural gas liquids. The company conducts its drilling program in resource plays located in the Peace River Arch region of Alberta. Birchcliff focuses on operating nearly all its high working production, which is surrounded by blocks of high working interest lands where it owns and/or controls the infrastructure.
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