Birchcliff Energy (TSE:BIR) Downgraded to “Hold” Rating by Cibc Captl Mkts

Cibc Captl Mkts downgraded shares of Birchcliff Energy (TSE:BIR) from a strong-buy rating to a hold rating in a research note released on Tuesday,Zacks.com reports.

A number of other brokerages have also recently issued reports on BIR. National Bankshares reduced their price objective on shares of Birchcliff Energy from C$9.25 to C$9.00 and set an “outperform” rating for the company in a research note on Wednesday, October 22nd. CIBC cut Birchcliff Energy from an “outperform” rating to a “neutral” rating and cut their target price for the stock from C$9.50 to C$8.50 in a research report on Tuesday. Scotiabank cut their price objective on shares of Birchcliff Energy from C$10.00 to C$9.00 in a report on Thursday, October 9th. Haywood Securities boosted their target price on shares of Birchcliff Energy from C$8.00 to C$10.00 in a report on Monday, December 22nd. Finally, BMO Capital Markets upgraded shares of Birchcliff Energy from a “hold” rating to an “outperform” rating and upped their target price for the stock from C$7.50 to C$8.50 in a research report on Monday, December 15th. Four research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$8.33.

Birchcliff Energy Stock Performance

TSE:BIR remained flat at C$7.09 during mid-day trading on Tuesday. The company’s stock had a trading volume of 237,092 shares, compared to its average volume of 743,278. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 27.63. The firm’s 50-day simple moving average is C$7.32 and its two-hundred day simple moving average is C$6.70. Birchcliff Energy has a fifty-two week low of C$4.89 and a fifty-two week high of C$8.19. The stock has a market capitalization of C$1.94 billion, a PE ratio of 26.26, a P/E/G ratio of 0.35 and a beta of -0.08.

Birchcliff Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, December 15th. Birchcliff Energy’s dividend payout ratio is presently 70.37%.

About Birchcliff Energy

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. To get the full value out of its natural gas wells, several gas plants are completely owned and operated for gas processing purposes.