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Birchcliff Energy

OTCPK:BIRE.F
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BIRE.F
OTCPK
CA$795M
Market Cap
  1. Home
  2. US
  3. Energy
Company description

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 last earnings update was 68 days ago. More info.


Add to Portfolio Compare Print
  • Birchcliff Energy has significant price volatility in the past 3 months.
BIRE.F Share Price and Events
7 Day Returns
6.1%
OTCPK:BIRE.F
-2%
US Oil and Gas
-1.2%
US Market
1 Year Returns
-40.4%
OTCPK:BIRE.F
-16.8%
US Oil and Gas
3.3%
US Market
BIRE.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Birchcliff Energy (BIRE.F) 6.1% 10.2% -17.7% -40.4% -64.5% -78.1%
US Oil and Gas -2% -1.8% -9.4% -16.8% -4.1% -37.9%
US Market -1.2% 0.8% 0.9% 3.3% 35.9% 41.7%
1 Year Return vs Industry and Market
  • BIRE.F underperformed the Oil and Gas industry which returned -16.8% over the past year.
  • BIRE.F underperformed the Market in United States of America which returned 3.3% over the past year.
Price Volatility
BIRE.F
Industry
5yr Volatility vs Market

Value

 Is Birchcliff Energy undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Birchcliff Energy to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Birchcliff Energy.

OTCPK:BIRE.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:BIRE.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.921 (1 + (1- 26.5%) (85.16%))
1.333
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.33
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.333 * 5.96%)
10.68%

Discounted Cash Flow Calculation for OTCPK:BIRE.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Birchcliff Energy is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

OTCPK:BIRE.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 10.68%)
2020 100.67 Analyst x3 90.96
2021 81.26 Est @ -19.28% 66.34
2022 70.96 Est @ -12.68% 52.34
2023 65.24 Est @ -8.06% 43.48
2024 62.10 Est @ -4.82% 37.39
2025 60.51 Est @ -2.55% 32.92
2026 59.92 Est @ -0.97% 29.46
2027 60.01 Est @ 0.14% 26.65
2028 60.56 Est @ 0.92% 24.30
2029 61.44 Est @ 1.46% 22.28
Present value of next 10 years cash flows CA$426.11
OTCPK:BIRE.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$61.44 × (1 + 2.73%) ÷ (10.68% – 2.73%)
CA$794.24
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$794.24 ÷ (1 + 10.68%)10
CA$287.99
OTCPK:BIRE.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$426.11 + CA$287.99
CA$714.10
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$714.10 / 265.94
CA$2.69
OTCPK:BIRE.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:BIRE.F represents 0.76254x of TSX:BIR
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.76254x
Value per Share
(Listing Adjusted, USD)
= Value per Share (CAD) x Listing Adjustment Factor
= CA$ 2.69 x 0.76254
$2.05
Value per share (USD) From above. $2.05
Current discount Discount to share price of $2.28
= -1 x ($2.28 - $2.05) / $2.05
-11.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Birchcliff Energy is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Birchcliff Energy's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Birchcliff Energy's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:BIRE.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CAD CA$0.38
TSX:BIR Share Price ** TSX (2019-07-19) in CAD CA$2.99
United States of America Oil and Gas Industry PE Ratio Median Figure of 101 Publicly-Listed Oil and Gas Companies 12.61x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.86x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Birchcliff Energy.

OTCPK:BIRE.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:BIR Share Price ÷ EPS (both in CAD)

= 2.99 ÷ 0.38

7.97x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Birchcliff Energy is good value based on earnings compared to the US Oil and Gas industry average.
  • Birchcliff Energy is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Birchcliff Energy's expected growth come at a high price?
Raw Data
OTCPK:BIRE.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.97x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
3.5%per year
United States of America Oil and Gas Industry PEG Ratio Median Figure of 79 Publicly-Listed Oil and Gas Companies 0.39x
United States of America Market PEG Ratio Median Figure of 2,119 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

OTCPK:BIRE.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.97x ÷ 3.5%

2.25x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Birchcliff Energy is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Birchcliff Energy's assets?
Raw Data
OTCPK:BIRE.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CAD CA$6.56
TSX:BIR Share Price * TSX (2019-07-19) in CAD CA$2.99
United States of America Oil and Gas Industry PB Ratio Median Figure of 196 Publicly-Listed Oil and Gas Companies 1.06x
United States of America Market PB Ratio Median Figure of 5,248 Publicly-Listed Companies 1.79x
OTCPK:BIRE.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:BIR Share Price ÷ Book Value per Share (both in CAD)

= 2.99 ÷ 6.56

0.46x

* Primary Listing of Birchcliff Energy.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Birchcliff Energy is good value based on assets compared to the US Oil and Gas industry average.
X
Value checks
We assess Birchcliff Energy's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Birchcliff Energy has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Birchcliff Energy expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
3.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Birchcliff Energy expected to grow at an attractive rate?
  • Birchcliff Energy's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Birchcliff Energy's earnings growth is positive but not above the United States of America market average.
  • Birchcliff Energy's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:BIRE.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:BIRE.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 3.5%
OTCPK:BIRE.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 10.4%
United States of America Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 12.8%
United States of America Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 4.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:BIRE.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:BIRE.F Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 895 455 1
2020-12-31 670 361 92 5
2019-12-31 653 343 62 5
OTCPK:BIRE.F Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-03-31 604 327 100
2018-12-31 583 324 98
2018-09-30 592 321 52
2018-06-30 554 323 -77
2018-03-31 556 309 -66
2017-12-31 528 288 -51
2017-09-30 497 289 -65
2017-06-30 479 241 55
2017-03-31 383 190 14
2016-12-31 317 141 -28
2016-09-30 263 95 -50
2016-06-30 252 115 -44

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Birchcliff Energy's earnings are expected to grow by 3.5% yearly, however this is not considered high growth (20% yearly).
  • Birchcliff Energy's revenue is expected to grow by 10.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:BIRE.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Birchcliff Energy Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:BIRE.F Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 0.36 0.41 0.30 3.00
2019-12-31 0.25 0.31 0.22 3.00
OTCPK:BIRE.F Past Financials Data
Date (Data in CAD Millions) EPS *
2019-03-31 0.38
2018-12-31 0.37
2018-09-30 0.20
2018-06-30 -0.29
2018-03-31 -0.25
2017-12-31 -0.19
2017-09-30 -0.24
2017-06-30 0.21
2017-03-31 0.06
2016-12-31 -0.14
2016-09-30 -0.29
2016-06-30 -0.29

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Birchcliff Energy will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Birchcliff Energy's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Birchcliff Energy has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Birchcliff Energy performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Birchcliff Energy's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Birchcliff Energy's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Birchcliff Energy has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Birchcliff Energy has become profitable in the last year making it difficult to compare the US Oil and Gas industry average.
Earnings and Revenue History
Birchcliff Energy's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Birchcliff Energy Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:BIRE.F Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 603.54 99.75 32.30
2018-12-31 583.12 98.03 32.30
2018-09-30 592.04 51.90 29.63
2018-06-30 554.24 -76.50 30.33
2018-03-31 556.19 -65.88 30.81
2017-12-31 528.22 -51.03 30.56
2017-09-30 496.62 -64.72 27.44
2017-06-30 478.98 54.96 27.18
2017-03-31 383.47 13.63 24.91
2016-12-31 316.68 -28.34 23.97
2016-09-30 263.37 -49.74 24.91
2016-06-30 252.29 -43.86 23.92
2016-03-31 286.57 -24.72 25.06
2015-12-31 305.76 -16.16 26.03
2015-09-30 333.00 10.22 25.67
2015-06-30 362.17 35.07 25.98
2015-03-31 389.32 67.33 27.40
2014-12-31 436.09 110.30 27.14
2014-09-30 418.97 130.31 26.83
2014-06-30 376.75 110.80 26.20
2014-03-31 340.69 93.49 24.93
2013-12-31 289.07 61.42 24.75
2013-09-30 278.79 30.66 24.67
2013-06-30 266.77 23.67 25.11
2013-03-31 246.74 14.31 27.54
2012-12-31 233.01 11.62 27.99
2012-09-30 223.87 9.65 33.88

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Birchcliff Energy has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Birchcliff Energy used its assets less efficiently than the US Oil and Gas industry average last year based on Return on Assets.
  • Birchcliff Energy has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Birchcliff Energy's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Birchcliff Energy has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Birchcliff Energy's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Birchcliff Energy's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Birchcliff Energy's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Birchcliff Energy's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Birchcliff Energy's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Birchcliff Energy Company Filings, last reported 3 months ago.

OTCPK:BIRE.F Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,785.37 661.52 0.05
2018-12-31 1,774.89 654.80 0.05
2018-09-30 1,708.73 684.58 0.05
2018-06-30 1,706.96 666.67 0.05
2018-03-31 1,705.53 623.24 0.05
2017-12-31 1,696.15 636.35 0.05
2017-09-30 1,675.63 634.47 0.01
2017-06-30 1,799.35 677.47 0.01
2017-03-31 1,780.89 627.95 0.05
2016-12-31 1,754.41 621.43 0.05
2016-09-30 1,735.64 683.37 0.05
2016-06-30 1,064.01 758.27 0.02
2016-03-31 1,086.97 696.04 0.06
2015-12-31 1,098.43 670.68 0.06
2015-09-30 1,107.06 675.37 0.06
2015-06-30 1,101.18 648.45 0.02
2015-03-31 1,104.24 584.94 0.05
2014-12-31 1,106.28 517.33 0.05
2014-09-30 1,087.62 483.76 0.05
2014-06-30 1,005.10 500.32 0.06
2014-03-31 961.12 503.24 0.10
2013-12-31 914.49 443.35 0.92
2013-09-30 871.73 494.03 0.10
2013-06-30 859.40 458.32 0.02
2013-03-31 846.07 452.42 0.05
2012-12-31 834.25 433.26 0.05
2012-09-30 826.33 390.54 0.05
  • Birchcliff Energy's level of debt (37.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (52.3% vs 37.1% today).
  • Debt is well covered by operating cash flow (49.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.5x coverage).
X
Financial health checks
We assess Birchcliff Energy's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Birchcliff Energy has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Birchcliff Energy's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.51%
Current annual income from Birchcliff Energy dividends. Estimated to be 3.62% next year.
If you bought $2,000 of Birchcliff Energy shares you are expected to receive $70 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Birchcliff Energy's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Birchcliff Energy's dividend is below the markets top 25% of dividend payers in United States of America (3.78%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:BIRE.F Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 67 Stocks 3.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:BIRE.F Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.11 2.00
2020-12-31 0.11 7.00
2019-12-31 0.11 8.00
OTCPK:BIRE.F Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-06-04 0.105 3.796
2019-02-13 0.105 2.937
2018-11-28 0.100 3.126
2018-09-05 0.100 2.268
2018-05-29 0.100 2.084
2018-02-28 0.100 2.564
2017-11-30 0.100 2.695
2017-09-05 0.100 1.838
2017-05-30 0.100 1.692
2017-03-01 0.100 1.422

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Birchcliff Energy has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Birchcliff Energy only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of Birchcliff Energy's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.5x coverage).
X
Income/ dividend checks
We assess Birchcliff Energy's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Birchcliff Energy afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Birchcliff Energy has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Birchcliff Energy's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jeff Tonken
COMPENSATION CA$4,892,322
AGE 62
TENURE AS CEO 15 years
CEO Bio

Mr. A. Jeffery Tonken, also known as Jeff, is the Founder of Birchcliff Energy Ltd. and has been its President and Chief Executive Officer since July 6, 2004. Mr. Tonken has over 37 years of experience in the oil and natural gas industry. He is one of the Birchcliff Energy’s founders. Mr. Tonken has been with Birchcliff Energy since January 18, 2005. He served as the President and Chief Executive Officer at Case Resources Inc. from October 2000 to July 2004. He served as the President and Chief Executive Officer at Big Bear Exploration Ltd. since joining in November 1997 until January 2000. Prior thereto, he served as the President and Chief Executive Officer at Stampeder Exploration Ltd. He founded Stampeder Exploration Ltd. in 1987. Mr. Tonken founded Case Resources Inc., Big Bear Exploration Ltd. and Stampeder Exploration Ltd. Previously, he was a Partner at Howard Mackie where he practiced commercial and corporate law for approximately 12 years. He has been the Chairman of Birchcliff Energy Ltd. since May 11, 2017 and has been its Non-Independent Director since July 6, 2004. He serves as a Member of Fund External Advisory Board at EdgeStone Capital Energy Fund, L.P. He served as a Member of the Board at Scout Capital Corp. since January 18, 2005 and Case Resources Inc. since 1997. He served as a Director of Sinopec Daylight Energy Ltd. He also served as a Member of the Board of Directors at the Canadian Association of Petroleum Producers. He is a member of the Law Society of Alberta. Mr. Tonken holds a Bachelor of Commerce Degree from the University of Alberta and a Law Degree from the University of Wales.

CEO Compensation
  • Jeff's compensation has increased in line with Birchcliff Energy recently becoming profitable.
  • Jeff's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure of the Birchcliff Energy management team in years:

15
Average Tenure
  • The average tenure for the Birchcliff Energy management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Jeff Tonken

TITLE
Chairman
COMPENSATION
CA$5M
AGE
62
TENURE
15 yrs

Bruno Geremia

TITLE
VP & CFO
COMPENSATION
CA$3M
TENURE
15 yrs

Myles Bosman

TITLE
VP of Exploration & COO
COMPENSATION
CA$3M
TENURE
15 yrs

Gates Aurigemma

TITLE
Manager of General Accounting
TENURE
14.2 yrs

Jesse Doenz

TITLE
Controller & Manager of Investor Relations
TENURE
14.8 yrs

Robyn Bourgeois

TITLE
General Counsel & Corporate Secretary

Michelle Rodgerson

TITLE
Manager of Human Resources & Corporate Services

Bruce Palmer

TITLE
Manager of Geology
Board of Directors Tenure

Average tenure and age of the Birchcliff Energy board of directors in years:

2.2
Average Tenure
62
Average Age
  • The average tenure for the Birchcliff Energy board of directors is less than 3 years, this suggests a new board.
Board of Directors

Jeff Tonken

TITLE
Chairman
COMPENSATION
CA$5M
AGE
62
TENURE
2.2 yrs

Jim Surbey

TITLE
Non-Independent Director
COMPENSATION
CA$178K
AGE
69
TENURE
2.2 yrs

Dennis Dawson

TITLE
Lead Independent Director
COMPENSATION
CA$183K
AGE
65
TENURE
2.2 yrs

Debbie Gerlach

TITLE
Independent Director
COMPENSATION
CA$190K
AGE
58
TENURE
1.7 yrs

Stacey McDonald

TITLE
Independent Director
COMPENSATION
CA$6K
AGE
35
TENURE
0.6 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Birchcliff Energy individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
17. Jul 19 Buy Bruno Geremia Individual 17. Jul 19 17. Jul 19 1,600 $2.24 $3,570
15. Jul 19 Buy David Humphreys Individual 15. Jul 19 15. Jul 19 7,400 $2.18 $16,166
08. Jul 19 Buy Christopher Carlsen Individual 08. Jul 19 08. Jul 19 3,500 $2.10 $7,356
02. Jul 19 Buy A. Tonken Individual 02. Jul 19 02. Jul 19 8,235 $1.95 $16,070
12. Jun 19 Buy James Surbey Individual 11. Jun 19 11. Jun 19 12,000 $2.17 $25,683
11. Jun 19 Buy Debra Gerlach Individual 11. Jun 19 11. Jun 19 5,000 $2.14 $10,689
11. Jun 19 Buy James Surbey Individual 10. Jun 19 10. Jun 19 14,000 $2.19 $30,337
06. Jun 19 Buy Debra Gerlach Individual 06. Jun 19 06. Jun 19 5,000 $2.22 $11,113
06. Jun 19 Buy Stacey McDonald Individual 05. Jun 19 05. Jun 19 15,000 $2.26 $33,810
03. Jun 19 Buy Christopher Carlsen Individual 31. May 19 31. May 19 4,580 $2.33 $10,662
03. Jun 19 Buy Myles Bosman Individual 31. May 19 31. May 19 3,095 $2.35 $7,247
03. Jun 19 Buy A. Tonken Individual 31. May 19 31. May 19 2,000 $2.33 $4,661
29. May 19 Buy David Humphreys Individual 29. May 19 29. May 19 3,550 $2.40 $8,526
28. May 19 Buy Debra Gerlach Individual 28. May 19 28. May 19 5,000 $2.52 $12,615
22. Apr 19 Buy A. Tonken Individual 22. Apr 19 22. Apr 19 7,100 $2.77 $19,694
03. Apr 19 Buy A. Tonken Individual 03. Apr 19 03. Apr 19 6,000 $2.67 $16,026
21. Feb 19 Buy Christopher Carlsen Individual 20. Feb 19 20. Feb 19 8,000 $2.71 $21,709
19. Feb 19 Buy David Humphreys Individual 15. Feb 19 15. Feb 19 2,675 $2.70 $7,213
03. Jan 19 Buy A. Tonken Individual 03. Jan 19 03. Jan 19 6,500 $2.31 $15,029
25. Dec 18 Buy James Surbey Individual 24. Dec 18 24. Dec 18 15,100 $1.96 $29,334
21. Dec 18 Buy Christopher Carlsen Individual 18. Dec 18 20. Dec 18 8,800 $2.11 $18,206
20. Dec 18 Buy James Surbey Individual 20. Dec 18 20. Dec 18 20,000 $2.09 $41,424
18. Dec 18 Buy Debra Gerlach Individual 18. Dec 18 18. Dec 18 5,000 $2.08 $10,394
18. Dec 18 Buy James Surbey Individual 14. Dec 18 14. Dec 18 50,000 $2.24 $111,551
18. Nov 18 Buy Myles Bosman Individual 16. Nov 18 16. Nov 18 9,300 $3.02 $28,069
18. Nov 18 Buy A. Tonken Individual 16. Nov 18 16. Nov 18 4,950 $3.09 $15,279
07. Sep 18 Buy Christopher Carlsen Individual 05. Sep 18 05. Sep 18 5,300 $3.35 $17,732
05. Sep 18 Sell David Humphreys Individual 05. Sep 18 05. Sep 18 -11,000 $3.34 $-36,697
X
Management checks
We assess Birchcliff Energy's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Birchcliff Energy has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

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. As of December 31, 2018, it had interests in various gas plants, oil batteries, compressors, facilities, and infrastructure; and 178,296.7 net acres of undeveloped land, as well as gross total proved plus probable reserves of 1,002,070 Mboe. Birchcliff Energy Ltd. was founded in 2004 and is headquartered in Calgary, Canada.

Details
Name: Birchcliff Energy Ltd.
BIRE.F
Exchange: OTCPK
Founded: 2004
CA$608,082,052
265,935,229
Website: http://www.birchcliffenergy.com
Address: Birchcliff Energy Ltd.
600 - 3rd Avenue SW,
Suite 1000,
Calgary,
Alberta, T2P 0G5,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX BIR Common Shares The Toronto Stock Exchange CA CAD 20. Jan 2005
OTCPK BIRE.F Common Shares Pink Sheets LLC US USD 20. Jan 2005
DB 39B Common Shares Deutsche Boerse AG DE EUR 20. Jan 2005
TSX BIR.PRA REDEEMABLE PFD A The Toronto Stock Exchange CA CAD 08. Aug 2012
TSX BIR.PRC PFD SER C The Toronto Stock Exchange CA CAD 14. Jun 2013
Number of employees
Current staff
Staff numbers
182
Birchcliff Energy employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/22 03:48
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/07/19
Last earnings filing: 2019/05/15
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.