Scotiabank Trims Birchcliff Energy (TSE:BIR) Target Price to C$7.00

Birchcliff Energy (TSE:BIR) had its price target trimmed by Scotiabank from C$7.50 to C$7.00 in a report issued on Wednesday morning, BayStreet.CA reports. The brokerage currently has a sector perform rating on the oil and natural gas company’s stock.

A number of other analysts have also weighed in on the stock. Canaccord Genuity Group upped their price target on shares of Birchcliff Energy from C$6.00 to C$6.50 in a research note on Thursday, August 15th. National Bankshares cut their target price on shares of Birchcliff Energy from C$6.50 to C$6.00 in a research note on Friday, September 27th. Cormark raised shares of Birchcliff Energy to a “strong-buy” rating in a research note on Monday, September 23rd. TD Securities cut their target price on shares of Birchcliff Energy from C$5.50 to C$5.00 in a research note on Tuesday, October 1st. Finally, BMO Capital Markets increased their target price on shares of Birchcliff Energy from C$6.00 to C$6.50 in a research note on Wednesday, July 3rd. Eight equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$6.53.

Birchcliff Energy Stock Performance

Shares of TSE:BIR opened at C$5.53 on Wednesday. The company has a 50 day moving average of C$5.75 and a 200-day moving average of C$5.81. The firm has a market cap of C$1.49 billion, a P/E ratio of 34.56, a P/E/G ratio of 0.35 and a beta of 1.93. Birchcliff Energy has a twelve month low of C$4.61 and a twelve month high of C$8.11. The company has a current ratio of 1.52, a quick ratio of 0.97 and a debt-to-equity ratio of 22.26.

Birchcliff Energy (TSE:BIR) last issued its quarterly 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%. As a group, analysts anticipate that Birchcliff Energy will post 0.1118631 earnings per share for the current fiscal year.

Birchcliff Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 7.23%. The ex-dividend date of this dividend was Friday, September 13th. Birchcliff Energy’s dividend payout ratio is 250.00%.

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.