Birchcliff Energy (TSE:BIR) Price Target Cut to C$1.00

Birchcliff Energy (TSE:BIR) had its target price trimmed by Raymond James from C$1.75 to C$1.00 in a research report released on Wednesday, BayStreet.CA reports. The firm currently has a market perform rating on the oil and natural gas company’s stock.

A number of other equities research analysts have also recently weighed in on BIR. Laurentian Bank of Canada decreased their price objective on Birchcliff Energy from C$5.00 to C$4.00 in a research note on Thursday, March 12th. Royal Bank of Canada lowered Birchcliff Energy from an outperform rating to a sector perform rating and reduced their target price for the company from C$4.00 to C$1.50 in a research report on Monday, March 16th. Canaccord Genuity reduced their target price on Birchcliff Energy from C$4.50 to C$1.60 in a research report on Tuesday, March 10th. Tudor Pickering lowered Birchcliff Energy from a hold rating to a sell rating and set a C$1.50 target price on the stock. in a research report on Thursday, January 23rd. Finally, Laurentian reduced their target price on Birchcliff Energy from C$5.00 to C$4.00 in a research report on Thursday, March 12th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of C$2.67.

Shares of TSE BIR traded down C$0.03 during mid-day trading on Wednesday, reaching C$0.71. 3,599,584 shares of the company were exchanged, compared to its average volume of 1,965,521. The company has a quick ratio of 0.38, a current ratio of 0.41 and a debt-to-equity ratio of 39.96. The stock has a market cap of $194.13 million and a price-to-earnings ratio of -3.17. Birchcliff Energy has a 1 year low of C$0.58 and a 1 year high of C$3.98. The firm has a 50-day moving average of C$1.35 and a 200 day moving average of C$1.98.

Birchcliff Energy (TSE:BIR) last issued its quarterly earnings data on Wednesday, February 12th. The oil and natural gas company reported C$0.07 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.06 by C$0.01. The company had revenue of C$164.76 million for the quarter, compared to analysts’ expectations of C$155.50 million. On average, equities analysts forecast that Birchcliff Energy will post 0.2 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st will be given a dividend of $0.0262 per share. This represents a $0.10 annualized dividend and a yield of 14.76%. The ex-dividend date is Friday, March 13th. Birchcliff Energy’s dividend payout ratio is currently -46.88%.

About Birchcliff Energy

Birchcliff Energy Ltd., an intermediate oil and natural gas company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids in Western Canada. The company holds interests in the Montney/Doig resource play, as well as other assets located in the Peace River Arch area of Alberta.

Read More: Hold Rating

Analyst Recommendations for Birchcliff Energy (TSE:BIR)

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