Birchcliff Energy (TSE:BIR – Free Report) had its target price decreased by Stifel Nicolaus from C$7.75 to C$6.50 in a research note issued to investors on Friday, BayStreet.CA reports. Stifel Nicolaus currently has a hold rating on the oil and natural gas company’s stock.
Several other research firms have also recently commented on BIR. BMO Capital Markets lowered their target price on shares of Birchcliff Energy from C$8.50 to C$8.00 and set a market perform rating on the stock in a research note on Wednesday, November 15th. National Bankshares lowered their price objective on shares of Birchcliff Energy from C$9.75 to C$9.25 and set an outperform rating on the stock in a research note on Wednesday, November 15th. Finally, Raymond James lifted their price objective on shares of Birchcliff Energy from C$10.50 to C$11.50 and gave the stock an outperform rating in a research note on Friday, September 8th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of C$10.19.
Birchcliff Energy Stock Down 2.8 %
Birchcliff Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 11.92%. The ex-dividend date is Thursday, December 14th. Birchcliff Energy’s dividend payout ratio (DPR) is currently 250.00%.
About Birchcliff Energy
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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