CIBC Lowers Birchcliff Energy (TSE:BIR) Price Target to C$4.00

Birchcliff Energy (TSE:BIR) had its price objective decreased by CIBC from C$5.75 to C$4.00 in a research note released on Thursday morning, BayStreet.CA reports.

Several other brokerages also recently issued reports on BIR. Raymond James set a C$3.50 price target on StorageVault Canada and gave the stock a strong-buy rating in a report on Thursday, May 16th. GMP Securities reaffirmed a buy rating and set a $22.25 target price on shares of SPDR Wells Fargo Preferred Stock ETF in a research note on Friday, June 28th. National Bank Financial cut their target price on Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating on the stock in a research note on Tuesday, June 25th. Finally, Canaccord Genuity raised Nuvista Energy to a buy rating in a research note on Tuesday, April 9th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of C$5.69.

Shares of TSE BIR opened at C$2.99 on Thursday. The company has a market cap of $795.11 million and a P/E ratio of 7.97. Birchcliff Energy has a 12-month low of C$2.54 and a 12-month high of C$5.45. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 37.93. The business has a 50 day moving average of C$2.79.

Birchcliff Energy (TSE:BIR) last announced its quarterly earnings results on Wednesday, May 15th. The oil and natural gas company reported C$0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.15 by C$0.02. The company had revenue of C$178.36 million during the quarter, compared to the consensus estimate of C$178.10 million. Equities research analysts forecast that Birchcliff Energy will post 0.33 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Tuesday, July 2nd were paid a dividend of $0.0262 per share. This represents a $0.10 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Friday, June 14th. Birchcliff Energy’s payout ratio is currently 27.00%.

Birchcliff Energy Company Profile

Birchcliff Energy Ltd., an intermediate oil and natural gas company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids in Western Canada. The company holds interests in the Montney/Doig resource play, as well as other assets located in the Peace River Arch area of Alberta.

Recommended Story: What is the return on assets (ROA) ratio?

Analyst Recommendations for Birchcliff Energy (TSE:BIR)

Receive News & Ratings for Birchcliff Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Birchcliff Energy and related companies with's FREE daily email newsletter.