Canaccord Genuity Group upgraded shares of Birchcliff Energy (TSE:BIR – Free Report) from a hold rating to a buy rating in a research report report published on Thursday, MarketBeat.com reports. They currently have C$7.00 target price on the oil and natural gas company’s stock, up from their prior target price of C$6.00.
A number of other equities analysts have also recently weighed in on BIR. Canaccord Genuity Group dropped their price target on Birchcliff Energy from C$6.00 to C$5.75 in a research note on Friday, November 15th. National Bank Financial raised Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. National Bankshares set a C$8.00 price target on Birchcliff Energy and gave the stock an “outperform” rating in a research note on Thursday. Scotiabank raised Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research note on Friday, January 17th. Finally, TD Securities raised Birchcliff Energy from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$5.50 to C$7.00 in a research note on Thursday, January 30th. One analyst has rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$7.04.
View Our Latest Stock Report on BIR
Birchcliff Energy Price Performance
Birchcliff Energy Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.12 annualized dividend and a dividend yield of 2.09%. Birchcliff Energy’s dividend payout ratio is 700.63%.
Birchcliff Energy Company Profile
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.
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