Birchcliff Energy (TSE:BIR) Upgraded to “Hold” at Tudor Pickering & Holt

Tudor Pickering & Holt upgraded shares of Birchcliff Energy (TSE:BIR) from a sell rating to a hold rating in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has C$1.50 price objective on the oil and natural gas company’s stock.

A number of other research firms have also weighed in on BIR. Tudor Pickering lowered Birchcliff Energy from a hold rating to a sell rating and set a C$1.50 price objective for the company. in a research note on Thursday, January 23rd. Royal Bank of Canada lowered Birchcliff Energy from an outperform rating to a sector perform rating and dropped their price objective for the company from C$4.00 to C$1.50 in a research note on Monday, March 16th. Raymond James dropped their price objective on Birchcliff Energy from C$4.50 to C$1.75 and set a market perform rating for the company in a research note on Thursday, March 12th. Laurentian dropped their price objective on Birchcliff Energy from C$5.00 to C$4.00 in a research note on Thursday, March 12th. Finally, National Bank Financial dropped their price objective on Birchcliff Energy from C$3.00 to C$1.75 and set an outperform rating for the company in a research note on Tuesday, March 10th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Birchcliff Energy currently has a consensus rating of Hold and an average price target of C$2.67.

Shares of TSE:BIR traded down C$0.03 during trading on Wednesday, reaching C$0.71. 3,599,584 shares of the company traded hands, compared to its average volume of 1,965,521. The firm has a market capitalization of $194.13 million and a price-to-earnings ratio of -3.17. Birchcliff Energy has a 52-week low of C$0.58 and a 52-week high of C$3.98. The company has a current ratio of 0.41, a quick ratio of 0.38 and a debt-to-equity ratio of 39.96. The business’s fifty day moving average is C$1.35 and its 200-day moving average is C$1.98.

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 for the quarter, beating 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, sell-side analysts predict that Birchcliff Energy will post 0.2 earnings per share for the current fiscal year.

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

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Analyst Recommendations for Birchcliff Energy (TSE:BIR)

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