Birchcliff Energy (OTCMKTS:BIREF) Price Target Cut to C$12.00

Birchcliff Energy (OTCMKTS:BIREFGet Rating) had its price target cut by Royal Bank of Canada from C$14.00 to C$12.00 in a research note published on Thursday, The Fly reports.

Several other research analysts have also weighed in on BIREF. Scotiabank lowered shares of Birchcliff Energy from an outperform rating to a sector perform rating in a research note on Tuesday, January 17th. Stifel Nicolaus reduced their target price on shares of Birchcliff Energy from C$9.75 to C$9.00 in a report on Thursday, January 19th. TD Securities reduced their target price on shares of Birchcliff Energy from C$11.50 to C$9.00 in a report on Thursday. National Bank Financial reduced their target price on shares of Birchcliff Energy from C$12.00 to C$11.00 in a report on Thursday. Finally, Maxim Group assumed coverage on shares of Birchcliff Energy in a report on Thursday, December 15th. They set a buy rating and a C$14.75 target price for the company.

Birchcliff Energy Price Performance

Birchcliff Energy stock opened at $5.72 on Thursday. The firm has a market capitalization of $1.53 billion, a PE ratio of 3.13 and a beta of 0.93. The company’s 50-day moving average is $6.34 and its 200-day moving average is $7.18. Birchcliff Energy has a fifty-two week low of $5.45 and a fifty-two week high of $9.96. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.58 and a quick ratio of 1.58.

Birchcliff Energy (OTCMKTS:BIREFGet Rating) last released its quarterly earnings data on Wednesday, February 15th. The company reported $0.19 earnings per share for the quarter. The company had revenue of $235.98 million for the quarter. Birchcliff Energy had a net margin of 49.27% and a return on equity of 29.77%.

Birchcliff Energy Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be issued a $0.1492 dividend. The ex-dividend date is Tuesday, March 14th. This represents a yield of 9.46%. This is an increase from Birchcliff Energy’s previous dividend of $0.01. Birchcliff Energy’s payout ratio is currently 32.24%.

About Birchcliff Energy

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Birchcliff Energy Ltd. engages in the exploration, development, production, and acquisition of petroleum and natural gas reserves. Its properties include Peace River Arch and Montney/Doig Resource Play. The company was founded by Myles R. Bosman, Gordon W. Cameron, Bruno P. Geremia, Laurence A. Shaw, Werner A.

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