Birchcliff Energy (TSE:BIR) Releases Earnings Results

Birchcliff Energy (TSE:BIR) posted its quarterly earnings results on Wednesday. The oil and natural gas company reported C$0.25 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$217.76 million for the quarter. Birchcliff Energy had a return on equity of 2.90% and a net margin of 9.27%.

Birchcliff Energy Stock Performance

Shares of BIR stock traded down C$0.11 during midday trading on Wednesday, hitting C$6.32. The company had a trading volume of 996,802 shares, compared to its average volume of 1,624,554. The stock has a market cap of C$1.74 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 0.35 and a beta of -0.30. The company has a debt-to-equity ratio of 27.56, a current ratio of 1.74 and a quick ratio of 0.97. The company’s 50 day simple moving average is C$6.73 and its 200 day simple moving average is C$6.99. Birchcliff Energy has a 52-week low of C$5.69 and a 52-week high of C$8.19.

Birchcliff Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, March 13th. Birchcliff Energy’s dividend payout ratio (DPR) is 50.00%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BIR shares. BMO Capital Markets cut Birchcliff Energy from an “outperform” rating to a “hold” rating and reduced their price objective for the company from C$8.50 to C$7.00 in a research note on Tuesday, April 7th. Canadian Imperial Bank of Commerce cut shares of Birchcliff Energy from an “outperform” rating to a “hold” rating and cut their target price for the company from C$9.50 to C$8.50 in a report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.