Birchcliff Energy (TSE:BIR) had its target price boosted by Eight Capital from C$5.00 to C$5.35 in a research note issued to investors on Wednesday.
Several other research firms also recently weighed in on BIR. National Bank Financial reduced their target price on Birchcliff Energy from C$8.00 to C$7.00 and set an outperform rating on the stock in a research report on Tuesday, January 9th. TD Securities upgraded Birchcliff Energy from a buy rating to an action list buy rating and reduced their target price for the stock from C$8.50 to C$6.00 in a research report on Thursday, March 22nd. BMO Capital Markets downgraded Birchcliff Energy from an outperform rating to a market perform rating and reduced their target price for the stock from C$7.50 to C$4.00 in a research report on Thursday, January 11th. CIBC increased their target price on Birchcliff Energy from C$5.00 to C$6.00 in a research report on Tuesday, March 20th. Finally, Raymond James Financial reduced their target price on Birchcliff Energy from C$6.25 to C$5.25 in a research report on Monday, February 5th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of C$6.61.
TSE BIR opened at C$4.15 on Wednesday. Birchcliff Energy has a twelve month low of C$2.90 and a twelve month high of C$7.98.
Birchcliff Energy (TSE:BIR) last released its earnings results on Wednesday, February 14th. The oil and natural gas company reported C$0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.15 by C($0.06). Birchcliff Energy had a negative return on equity of 28.79% and a negative net margin of 112.10%. The business had revenue of C$166.15 million for the quarter, compared to analysts’ expectations of C$175.40 million.
The company also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Monday, April 2nd were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $0.10 annualized dividend and a yield of 2.41%.
In other news, insider David Humphreys purchased 16,000 shares of the company’s stock in a transaction on Monday, March 12th. The stock was bought at an average cost of C$3.04 per share, for a total transaction of C$48,640.00. Insiders have acquired 33,125 shares of company stock valued at $147,208 over the last 90 days.
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Birchcliff Energy Company Profile
Birchcliff Energy Ltd. is an intermediate oil and natural gas company. The Company is engaged in the exploration for and the development, production and acquisition of petroleum and natural gas reserves in Western Canada. Its operations are concentrated within core area, the Peace River Arch, which is centered over 90 kilometers northwest of Grande Prairie, Alberta, adjacent to the Alberta/British Columbia border.
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