Birchcliff Energy (TSE:BIR) PT Lowered to C$9.00 at CIBC

Birchcliff Energy (TSE:BIR – Get Rating) had its price objective reduced by CIBC from C$10.50 to C$9.00 in a research note issued to investors on Thursday morning, BayStreet.CA reports. They currently have a neutral rating on the oil and natural gas company’s stock.

Other equities analysts have also recently issued research reports about the company. Raymond James decreased their price target on Birchcliff Energy from C$13.50 to C$12.00 and set an outperform rating for the company in a report on Monday, January 16th. BMO Capital Markets lowered their target price on Birchcliff Energy from C$14.00 to C$13.00 in a report on Tuesday, December 13th. Scotiabank lowered Birchcliff Energy from an outperform rating to a sector perform rating and decreased their price target for the company from C$16.50 to C$13.00 in a research report on Tuesday, January 17th. Canaccord Genuity Group cut their price target on Birchcliff Energy from C$13.00 to C$12.00 in a research note on Thursday, February 16th. Finally, Stifel Nicolaus cut their price objective on Birchcliff Energy from C$9.75 to C$9.00 in a research note on Thursday, January 19th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of C$11.81.

Birchcliff Energy Price Performance

Shares of TSE BIR opened at C$7.89 on Thursday. Birchcliff Energy has a one year low of C$6.86 and a one year high of C$12.48. The company has a debt-to-equity ratio of 5.47, a quick ratio of 0.97 and a current ratio of 1.05. The company’s fifty day moving average is C$8.56 and its two-hundred day moving average is C$9.68. The firm has a market capitalization of C$2.10 billion, a P/E ratio of 3.30, a PEG ratio of 0.35 and a beta of 2.27.

Birchcliff Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 31st will be issued a $0.20 dividend. The ex-dividend date is Tuesday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 10.14%. This is a boost from Birchcliff Energy’s previous quarterly dividend of $0.02. Birchcliff Energy’s dividend payout ratio is presently 33.47%.

Birchcliff Energy Company Profile

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Birchcliff Energy Ltd., an intermediate oil and natural gas company, acquires, explores for, develops, and produces natural gas, light oil, condensate, and natural gas liquids in Western Canada. The company holds interests in the Montney/Doig resource play located approximately 95 km northwest of Grande Prairie, Alberta.