Birchcliff Energy (TSE:BIR) Upgraded to Hold at Tudor Pickering

Tudor Pickering upgraded shares of Birchcliff Energy (TSE:BIR) from a sell rating to a hold rating in a research note issued to investors on Wednesday, Stock Target Advisor reports. Tudor Pickering currently has C$1.50 target price on the oil and natural gas company’s stock.

BIR has been the subject of a number of other reports. Laurentian decreased their target price on Birchcliff Energy from C$5.00 to C$4.00 in a report on Thursday, March 12th. Royal Bank of Canada lowered Birchcliff Energy from an outperform rating to a sector perform rating and decreased their target price for the company from C$4.00 to C$1.50 in a report on Monday, March 16th. National Bank Financial decreased their price target on Birchcliff Energy from C$3.00 to C$1.75 and set an outperform rating for the company in a report on Tuesday, March 10th. Tudor Pickering & Holt raised Birchcliff Energy from a sell rating to a hold rating and set a C$1.50 price target for the company in a report on Wednesday. Finally, Raymond James decreased their price target on Birchcliff Energy from C$1.75 to C$1.00 and set a market perform rating for the company in a report on Wednesday. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of C$2.67.

TSE:BIR traded down C$0.03 during midday trading on Wednesday, reaching C$0.71. The company had a trading volume of 3,599,584 shares, compared to its average volume of 1,965,521. The firm has a market capitalization of $194.13 million and a price-to-earnings ratio of -3.17. The stock’s fifty day simple moving average is C$1.35 and its 200-day simple moving average is C$1.98. Birchcliff Energy has a 12-month low of C$0.58 and a 12-month high of C$3.98. The company has a current ratio of 0.41, a quick ratio of 0.38 and a debt-to-equity ratio of 39.96.

Birchcliff Energy (TSE:BIR) last released its earnings results on Wednesday, February 12th. The oil and natural gas company reported C$0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$0.06 by C$0.01. The company had revenue of C$164.76 million during the quarter, compared to analysts’ expectations of C$155.50 million. As a group, sell-side analysts expect that Birchcliff Energy will post 0.2 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.0262 per share. This represents a $0.10 dividend on an annualized basis and a yield of 14.76%. The ex-dividend date of this dividend is Friday, March 13th. Birchcliff Energy’s dividend payout ratio (DPR) is -46.88%.

Birchcliff Energy Company Profile

Birchcliff Energy Ltd., an intermediate oil and natural gas company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids in Western Canada. The company holds interests in the Montney/Doig resource play, as well as other assets located in the Peace River Arch area of Alberta.

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Analyst Recommendations for Birchcliff Energy (TSE:BIR)

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