Cormark upgraded shares of Birchcliff Energy (TSE:BIR – Free Report) to a strong-buy rating in a research note released on Thursday morning,Zacks.com reports.
Several other equities analysts have also issued reports on BIR. National Bank Financial upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Canaccord Genuity Group upgraded Birchcliff Energy from a “hold” rating to a “buy” rating and boosted their price target for the company from C$6.00 to C$7.00 in a research note on Thursday. TD Securities upgraded Birchcliff Energy from a “hold” rating to a “buy” rating and upped their price objective for the company from C$5.50 to C$7.00 in a research note on Thursday, January 30th. Scotiabank upgraded Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research note on Friday, January 17th. Finally, Canaccord Genuity Group lowered their price objective on Birchcliff Energy from C$6.00 to C$5.75 in a research note on Friday, November 15th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Birchcliff Energy has an average rating of “Buy” and an average price target of C$7.04.
Birchcliff Energy Trading Up 8.1 %
Birchcliff Energy Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, March 14th. Birchcliff Energy’s payout ratio is currently 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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