Birchcliff Energy (TSE:BIR) Upgraded by CIBC to “Outperform” Rating

CIBC upgraded shares of Birchcliff Energy (TSE:BIR) from a neutral rating to an outperform rating in a research report released on Thursday,BayStreet.CA reports. They currently have C$8.00 target price on the oil and natural gas company’s stock, up from their prior target price of C$7.00.

BIR has been the topic of a number of other reports. Scotiabank upgraded Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research note on Friday, January 17th. Canaccord Genuity Group decreased their target price on Birchcliff Energy from C$6.00 to C$5.75 in a research note on Friday, November 15th. TD Securities raised Birchcliff Energy from a “hold” rating to a “buy” rating and lifted their target price for the company from C$5.50 to C$7.00 in a research report on Thursday, January 30th. National Bankshares raised shares of Birchcliff Energy from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$6.00 to C$8.00 in a research report on Thursday, January 30th. Finally, National Bank Financial raised shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Birchcliff Energy presently has a consensus rating of “Buy” and a consensus target price of C$7.04.

Birchcliff Energy Trading Up 8.1 %

Shares of BIR stock opened at C$5.73 on Thursday. Birchcliff Energy has a 1-year low of C$4.53 and a 1-year high of C$6.54. The firm has a market cap of C$1.55 billion, a PE ratio of 100.37, a price-to-earnings-growth ratio of 0.35 and a beta of 1.93. The company has a 50-day moving average of C$5.71 and a two-hundred day moving average of C$5.52. The company has a debt-to-equity ratio of 27.63, a current ratio of 1.01 and a quick ratio of 0.97.

Birchcliff Energy Cuts Dividend

The company also recently announced 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 is Friday, March 14th. Birchcliff Energy’s dividend payout ratio (DPR) is currently 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.