Birchcliff Energy (TSE:BIR) Reaches New 12-Month Low at $7.31

Posted by on Jun 25th, 2023

Birchcliff Energy Ltd. (TSE:BIR – Get Rating) shares hit a new 52-week low during trading on Friday . The company traded as low as C$7.31 and last traded at C$7.44, with a volume of 116369 shares changing hands. The stock had previously closed at C$7.50.

Analysts Set New Price Targets

BIR has been the subject of a number of research analyst reports. Stifel Nicolaus downgraded Birchcliff Energy from a “buy” rating to a “hold” rating and decreased their price target for the company from C$9.00 to C$8.00 in a research report on Thursday, March 16th. Royal Bank of Canada decreased their target price on Birchcliff Energy from C$14.00 to C$12.00 and set an “outperform” rating for the company in a research report on Thursday, March 16th. BMO Capital Markets decreased their target price on Birchcliff Energy from C$9.00 to C$8.75 in a research report on Monday, April 17th. Raymond James downgraded Birchcliff Energy from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from C$12.00 to C$11.00 in a research report on Tuesday, April 11th. Finally, CIBC decreased their target price on Birchcliff Energy from C$9.00 to C$8.00 in a research report on Friday, April 14th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Birchcliff Energy presently has an average rating of “Hold” and an average price target of C$10.98.

Birchcliff Energy Stock Down 0.8 %

The stock has a fifty day moving average price of C$7.85 and a 200 day moving average price of C$8.33. The company has a debt-to-equity ratio of 8.84, a current ratio of 0.66 and a quick ratio of 0.97. The stock has a market capitalization of C$1.98 billion, a P/E ratio of 4.23, a price-to-earnings-growth ratio of 0.35 and a beta of 2.26.

Birchcliff Energy (TSE:BIR – Get Rating) last posted its quarterly earnings results on Wednesday, May 10th. The oil and natural gas company reported C($0.16) EPS for the quarter, missing analysts’ consensus estimates of C$0.08 by C($0.24). The company had revenue of C$208.65 million during the quarter, compared to the consensus estimate of C$185.90 million. Birchcliff Energy had a return on equity of 22.31% and a net margin of 36.42%. On average, research analysts forecast that Birchcliff Energy Ltd. will post 0.3610301 earnings per share for the current year.

Birchcliff Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 30th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 10.75%. The ex-dividend date of this dividend is Wednesday, June 14th. Birchcliff Energy’s dividend payout ratio is 45.45%.

Insider Activity at Birchcliff Energy

In related news, Senior Officer Theo Van Der Werken sold 20,000 shares of Birchcliff Energy stock in a transaction on Friday, April 14th. The stock was sold at an average price of C$8.20, for a total transaction of C$164,000.00. 1.50% of the stock is owned by corporate insiders.

Birchcliff Energy Company Profile

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Birchcliff Energy Ltd., an intermediate oil and natural gas company, acquires, explores for, develops, and produces natural gas, light oil, condensate, and other natural gas liquids in Western Canada. The company holds interests in the Montney/Doig resource play located approximately 95 km northwest of Grande Prairie, Alberta.

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