Birchcliff Energy (TSE:BIR) Releases Quarterly Earnings Results

Birchcliff Energy (TSE:BIR) released its earnings results on Wednesday. The oil and natural gas company reported C$0.25 earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$217.76 million for the quarter. Birchcliff Energy had a return on equity of 2.90% and a net margin of 9.27%.

Birchcliff Energy Price Performance

BIR opened at C$6.32 on Thursday. The business has a fifty day moving average of C$6.72 and a 200 day moving average of C$6.99. Birchcliff Energy has a 52-week low of C$5.69 and a 52-week high of C$8.19. The company has a quick ratio of 0.97, a current ratio of 1.74 and a debt-to-equity ratio of 27.56. The stock has a market cap of C$1.74 billion, a P/E ratio of 26.33, a PEG ratio of 0.35 and a beta of -0.30.

Birchcliff Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were issued a dividend of $0.03 per share. The ex-dividend date was Friday, March 13th. This represents a $0.12 dividend on an annualized basis and a yield of 1.9%. Birchcliff Energy’s payout ratio is presently 50.00%.

Analyst Ratings Changes

Separately, BMO Capital Markets downgraded Birchcliff Energy from an “outperform” rating to a “hold” rating and cut their target price for the company from C$8.50 to C$7.00 in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Birchcliff Energy has an average rating of “Moderate Buy” and a consensus price target of C$8.50.

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. To get the full value out of its natural gas wells, several gas plants are completely owned and operated for gas processing purposes.