Birchcliff Energy (TSE:BIR) Upgraded to Strong-Buy 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.

A number of other equities analysts have also weighed in on BIR. National Bank Financial raised Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Canaccord Genuity Group raised Birchcliff Energy from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$6.00 to C$7.00 in a research note on Thursday. Canaccord Genuity Group lowered their price objective on Birchcliff Energy from C$6.00 to C$5.75 in a research note on Friday, November 15th. National Bankshares set a C$8.00 price objective on Birchcliff Energy and gave the stock an “outperform” rating in a research note on Thursday. Finally, Cormark upgraded Birchcliff Energy to a “strong-buy” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$7.04.

Birchcliff Energy Stock Performance

TSE BIR opened at C$5.74 on Thursday. The stock’s fifty day moving average is C$5.71 and its two-hundred day moving average is C$5.52. The firm has a market capitalization of C$1.56 billion, a P/E ratio of 100.54, a price-to-earnings-growth ratio of 0.35 and a beta of 1.93. The company has a debt-to-equity ratio of 27.63, a quick ratio of 0.97 and a current ratio of 1.01. Birchcliff Energy has a fifty-two week low of C$4.53 and a fifty-two week high of C$6.54.

Birchcliff Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be issued a $0.03 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.12 annualized dividend and a dividend yield of 2.09%. 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.