Cormark Upgrades Birchcliff Energy (TSE:BIR) to Strong-Buy

Cormark upgraded shares of Birchcliff Energy (TSE:BIR - Free Report) to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

BIR has been the topic of several other reports. Canaccord Genuity Group dropped their target price on shares of Birchcliff Energy from C$6.00 to C$5.75 in a research report on Friday, November 15th. National Bank Financial upgraded shares of Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 22nd. Scotiabank upgraded shares of Birchcliff Energy from a "sector perform" rating to an "outperform" rating in a report on Friday, January 17th. National Bankshares set a C$8.00 price target on shares of Birchcliff Energy and gave the stock an "outperform" rating in a report on Thursday, March 13th. Finally, CIBC upgraded shares of Birchcliff Energy from a "neutral" rating to an "outperform" rating and raised their price target for the stock from C$7.00 to C$8.00 in a report on Thursday, March 13th. One equities research 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. According to data from MarketBeat.com, Birchcliff Energy presently has an average rating of "Buy" and an average price target of C$7.04.

Birchcliff Energy Trading Up 1.4 %

Shares of Birchcliff Energy stock traded up C$0.08 during trading on Thursday, hitting C$5.92. The stock had a trading volume of 682,184 shares, compared to its average volume of 1,290,997. The stock has a 50 day simple moving average of C$5.72 and a 200 day simple moving average of C$5.51. The company has a market capitalization of C$1.61 billion, a PE ratio of 103.69, a P/E/G ratio of 0.35 and a beta of 1.93. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 27.63. Birchcliff Energy has a 1 year low of C$4.53 and a 1 year high of C$6.54.

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Birchcliff Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, March 14th. Birchcliff Energy's dividend payout ratio (DPR) is presently 700.63%.

About Birchcliff Energy

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.