Birchcliff Energy (TSE:BIR) Upgraded at Cibc World Mkts

Cibc World Mkts upgraded shares of Birchcliff Energy (TSE:BIR) from a hold rating to a strong-buy rating in a report published on Thursday morning,Zacks.com reports.

BIR has been the subject of a number of other research reports. CIBC raised Birchcliff Energy from a “neutral” rating to an “outperform” rating and raised their target price for the company from C$7.00 to C$8.00 in a report on Thursday. 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. Cormark upgraded Birchcliff Energy to a “strong-buy” rating in a research report on Thursday. National Bank Financial upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. 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 given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$7.04.

Birchcliff Energy Stock Up 0.2 %

Shares of BIR opened at C$5.74 on Thursday. Birchcliff Energy has a 1 year low of C$4.53 and a 1 year high of C$6.54. The company has a debt-to-equity ratio of 27.63, a quick ratio of 0.97 and a current ratio of 1.01. The company’s 50-day simple moving average is C$5.72 and its 200-day simple moving average is C$5.52. The stock has a market capitalization of C$1.56 billion, a PE ratio of 100.54, a P/E/G ratio of 0.35 and a beta of 1.93.

Birchcliff Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 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.