Birchcliff Energy (TSE:BIR) Raised to Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Birchcliff Energy (TSE:BIR) from a hold rating to a buy rating in a research note published on Thursday morning,BayStreet.CA reports. Canaccord Genuity Group currently has C$7.00 target price on the oil and natural gas company’s stock, up from their prior target price of C$6.00.

Several other brokerages have also issued reports on BIR. National Bank Financial raised shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Scotiabank raised shares of Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research note on Friday, January 17th. TD Securities upgraded shares of Birchcliff Energy from a “hold” rating to a “buy” rating and upped their target price for the company from C$5.50 to C$7.00 in a research report on Thursday, January 30th. Canaccord Genuity Group reduced their price target on Birchcliff Energy from C$6.00 to C$5.75 in a research report on Friday, November 15th. Finally, CIBC upgraded Birchcliff Energy from a “neutral” rating to an “outperform” rating and upped their price objective for the company from C$7.00 to C$8.00 in a report on Thursday. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$7.04.

Birchcliff Energy Trading Up 8.1 %

BIR stock opened at C$5.73 on Thursday. The business has a fifty day moving average of C$5.71 and a 200-day moving average of C$5.52. The company has a market cap of C$1.55 billion, a P/E ratio of 100.37, a PEG ratio of 0.35 and a beta of 1.93. Birchcliff Energy has a twelve month low of C$4.53 and a twelve month high of C$6.54. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 27.63.

Birchcliff Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, March 14th. Birchcliff Energy’s dividend payout ratio is currently 700.63%.

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.