Birchcliff Energy (TSE:BIR) Announces Earnings Results

Birchcliff Energy (TSE:BIR) issued its earnings results on Wednesday. The oil and natural gas company reported C$0.10 earnings per share for the quarter, FiscalAI reports. Birchcliff Energy had a return on equity of 0.70% and a net margin of 2.04%.The business had revenue of C$164.42 million for the quarter.

Birchcliff Energy Price Performance

Shares of BIR opened at C$6.83 on Friday. The firm has a 50-day simple moving average of C$7.26 and a two-hundred day simple moving average of C$6.73. The stock has a market cap of C$1.88 billion, a PE ratio of 25.30, a P/E/G ratio of 0.35 and a beta of 0.07. Birchcliff Energy has a 1-year low of C$4.89 and a 1-year high of C$8.19. The company has a debt-to-equity ratio of 27.63, a current ratio of 1.01 and a quick ratio of 0.97.

Birchcliff Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were given a dividend of $0.03 per share. The ex-dividend date was Monday, December 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.8%. Birchcliff Energy’s dividend payout ratio (DPR) is currently 70.37%.

Analyst Upgrades and Downgrades

BIR has been the subject of several analyst reports. BMO Capital Markets upgraded Birchcliff Energy from a “hold” rating to an “outperform” rating and upped their target price for the company from C$7.50 to C$8.50 in a report on Monday, December 15th. Canadian Imperial Bank of Commerce cut shares of Birchcliff Energy from an “outperform” rating to a “hold” rating and cut their price objective for the stock from C$9.50 to C$8.50 in a research report on Tuesday, January 13th. 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, National Bank Financial dropped their price target 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. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Birchcliff Energy has a consensus rating of “Buy” and a consensus target price of C$8.50.

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.