Birchcliff Energy (TSE:BIR) Price Target Cut to C$1.00 by Analysts at Raymond James

Birchcliff Energy (TSE:BIR) had its price objective reduced by Raymond James from C$1.75 to C$1.00 in a research note published on Wednesday morning, BayStreet.CA reports. They currently have a market perform rating on the oil and natural gas company’s stock.

A number of other research firms also recently issued reports on BIR. Laurentian reduced 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 downgraded Birchcliff Energy from an outperform rating to a sector perform rating and reduced their price objective for the stock from C$4.00 to C$1.50 in a research note on Monday, March 16th. Canaccord Genuity cut their target price on Birchcliff Energy from C$4.50 to C$1.60 in a research report on Tuesday, March 10th. Tudor Pickering downgraded 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, Tudor Pickering & Holt raised Birchcliff Energy from a sell rating to a hold rating and set a C$1.50 target price on the stock in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of C$2.67.

TSE:BIR traded down C$0.03 during trading hours on Wednesday, reaching C$0.71. The stock had a trading volume of 3,599,584 shares, compared to its average volume of 1,965,521. The company has a debt-to-equity ratio of 39.96, a quick ratio of 0.38 and a current ratio of 0.41. Birchcliff Energy has a 52 week low of C$0.58 and a 52 week high of C$3.98. The company has a 50 day moving average price of C$1.35 and a two-hundred day moving average price of C$1.98. The stock has a market capitalization of $194.13 million and a PE ratio of -3.17.

Birchcliff Energy (TSE:BIR) last released its quarterly earnings data on Wednesday, February 12th. The oil and natural gas company reported C$0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.06 by C$0.01. The firm had revenue of C$164.76 million during the quarter, compared to the consensus estimate of C$155.50 million. Equities research analysts predict that Birchcliff Energy will post 0.2 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders 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 dividend yield of 14.76%. The ex-dividend date of this dividend is Friday, March 13th. Birchcliff Energy’s dividend payout ratio is currently -46.88%.

Birchcliff Energy Company Profile

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.

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Analyst Recommendations for Birchcliff Energy (TSE:BIR)

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