Cormark upgraded shares of Birchcliff Energy (TSE:BIR – Free Report) to a strong-buy rating in a research note published on Thursday morning,Zacks.com reports.
BIR has been the subject of a number of other reports. National Bank Financial upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Canaccord Genuity Group dropped their price target on Birchcliff Energy from C$6.00 to C$5.75 in a research report on Friday, November 15th. CIBC upgraded Birchcliff Energy from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from C$7.00 to C$8.00 in a research report on Thursday. National Bankshares set a C$8.00 price target on Birchcliff Energy and gave the stock an “outperform” rating in a research report on Thursday. Finally, Scotiabank upgraded Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research report on Friday, January 17th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Birchcliff Energy presently has a consensus rating of “Buy” and a consensus price target of C$7.04.
Check Out Our Latest Analysis on BIR
Birchcliff Energy Stock Up 0.2 %
Birchcliff Energy Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be issued 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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