Birchcliff Energy (OTCMKTS:BIREF) Upgraded to “Strong-Buy” at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Birchcliff Energy (OTCMKTS:BIREF) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday morning,Zacks.com reports.

A number of other research firms have also issued reports on BIREF. TD Securities raised Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. Scotiabank raised Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 17th. Cormark raised Birchcliff Energy to a “strong-buy” rating in a research note on Thursday. Finally, National Bank Financial raised Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Six research analysts have rated the stock with a strong buy rating, Based on data from MarketBeat, Birchcliff Energy has an average rating of “Strong Buy”.

Birchcliff Energy Price Performance

Shares of BIREF opened at $3.99 on Thursday. The stock’s 50 day moving average is $3.98 and its two-hundred day moving average is $3.91. The firm has a market capitalization of $1.08 billion, a PE ratio of 28.50 and a beta of 0.63. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. Birchcliff Energy has a twelve month low of $3.15 and a twelve month high of $4.83.

Birchcliff Energy (OTCMKTS:BIREF) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.09 EPS for the quarter. Birchcliff Energy had a return on equity of 2.49% and a net margin of 9.39%.

Birchcliff Energy Cuts Dividend

The firm also recently declared a dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.0209 dividend. The ex-dividend date is Friday, March 14th. This represents a yield of 2.44%. Birchcliff Energy’s dividend payout ratio (DPR) is presently 57.14%.

About Birchcliff Energy

Birchcliff Energy Ltd., an intermediate oil and natural gas company, explores for, develops, and produces natural gas, light oil, condensate, and other natural gas liquids in Western Canada. The company holds interests in the areas of Montney/Doig Resource Play, including the Pouce Coupe and Gordondale properties in Alberta.