Shares of Birchcliff Energy Ltd. (TSE:BIR) rose 4.5% during trading on Thursday following a dividend announcement from the company. The stock traded as high as C$3.71 and last traded at C$3.70. Approximately 198,865 shares were traded during trading, a decline of 76% from the average daily volume of 832,230 shares. The stock had previously closed at C$3.54.
The newly announced dividend which will be paid on Monday, April 1st. Shareholders of record on Monday, April 1st will be issued a $0.0262 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Thursday, March 14th. This is a positive change from Birchcliff Energy’s previous quarterly dividend of $0.03. Birchcliff Energy’s payout ratio is currently 51.28%.
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Several brokerages have recently commented on BIR. GMP Securities decreased their price target on Birchcliff Energy from C$6.25 to C$5.50 in a research note on Thursday, December 13th. National Bank Financial decreased their price target on Birchcliff Energy from C$7.25 to C$6.00 and set an “outperform” rating on the stock in a research note on Monday, December 10th. BMO Capital Markets boosted their price target on Birchcliff Energy from C$4.00 to C$4.25 and gave the stock a “market perform” rating in a research note on Thursday, February 14th. Raymond James set a C$5.00 price target on Birchcliff Energy and gave the stock an “outperform” rating in a research note on Thursday. Finally, TD Securities decreased their price target on Birchcliff Energy from C$7.50 to C$7.00 and set an “action list buy” rating on the stock in a research note on Friday, February 15th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Birchcliff Energy has an average rating of “Buy” and an average target price of C$6.21.
The company has a debt-to-equity ratio of 40.06, a current ratio of 0.86 and a quick ratio of 0.68. The company has a market capitalization of $934.24 million and a P/E ratio of 18.87.
Birchcliff Energy (TSE:BIR) last posted its earnings results on Wednesday, February 13th. The oil and natural gas company reported C$0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.13 by C$0.14. The company had revenue of C$154.72 million during the quarter, compared to analysts’ expectations of C$174.00 million. Analysts anticipate that Birchcliff Energy Ltd. will post 0.339999976209914 earnings per share for the current year.
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Birchcliff Energy Company Profile (TSE:BIR)
Birchcliff Energy Ltd., an intermediate oil and gas company, explores for, develops, and produces natural gas, light oil, and natural gas liquids in Western Canada. The company holds interests in the Montney/Doig resource play, as well as other natural gas, crude oil, and natural gas liquids assets located in the Peace River Arch area of Alberta.
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