Birchcliff Energy (TSE:BIR) Issues Earnings Results

Birchcliff Energy (TSE:BIR) issued its earnings results on Wednesday. The oil and natural gas company reported C$0.05 EPS for the quarter, FiscalAI reports. Birchcliff Energy had a return on equity of 3.07% and a net margin of 9.59%.The business had revenue of C$193.41 million during the quarter.

Birchcliff Energy Stock Up 1.4%

Shares of TSE BIR opened at C$6.47 on Friday. The company has a debt-to-equity ratio of 23.09, a current ratio of 1.17 and a quick ratio of 0.97. The company has a 50-day moving average price of C$6.38 and a 200-day moving average price of C$6.64. The stock has a market capitalization of C$1.77 billion, a P/E ratio of 25.88, a P/E/G ratio of 0.35 and a beta of -0.57. Birchcliff Energy has a 1 year low of C$5.69 and a 1 year high of C$8.19.

Birchcliff Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Monday, June 15th. Birchcliff Energy’s dividend payout ratio (DPR) is currently 48.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Scotiabank raised Birchcliff Energy to a “hold” rating in a research note on Friday, June 26th. Raymond James Financial boosted their price objective on Birchcliff Energy from C$8.00 to C$8.50 and gave the company an “outperform” rating in a report on Thursday. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Birchcliff Energy has an average rating of “Hold” and an average price target of C$8.67.

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