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Birchcliff Energy

DB:39B
Snowflake Description

Reasonable growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
39B
DB
CA$173M
Market Cap
  1. Home
  2. DE
  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 19 days ago. More info.


Add to Portfolio Compare Print
  • Birchcliff Energy has significant price volatility in the past 3 months.
39B Share Price and Events
7 Day Returns
12.7%
DB:39B
18.1%
DE Oil and Gas
7.3%
DE Market
1 Year Returns
-82.7%
DB:39B
21.9%
DE Oil and Gas
-17.7%
DE Market
39B Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Birchcliff Energy (39B) 12.7% -56.4% -76% -82.7% -92.3% -91.7%
DE Oil and Gas 18.1% -15.9% -28.7% 21.9% -25.6% 137.4%
DE Market 7.3% -17.9% -25.8% -17.7% -25.6% -29%
1 Year Return vs Industry and Market
  • 39B underperformed the Oil and Gas industry which returned 21.9% over the past year.
  • 39B underperformed the Market in Germany which returned -17.7% over the past year.
Price Volatility
39B
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.

DB:39B Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

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 DB:39B
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.81
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.808 (1 + (1- 26.5%) (391.98%))
2.431
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (2 * 5.44%)
10.49%

Discounted Cash Flow Calculation for DB:39B 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.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:39B DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 10.49%)
2020 -53.61 Analyst x8 -48.52
2021 54.55 Analyst x8 44.68
2022 73.90 Est @ 35.47% 54.78
2023 92.16 Est @ 24.71% 61.84
2024 107.99 Est @ 17.18% 65.58
2025 120.85 Est @ 11.91% 66.42
2026 130.78 Est @ 8.22% 65.06
2027 138.16 Est @ 5.64% 62.20
2028 143.45 Est @ 3.83% 58.45
2029 147.12 Est @ 2.56% 54.26
Present value of next 10 years cash flows CA$484.00
DB:39B DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$147.12 × (1 + -0.39%) ÷ (10.49% – -0.39%)
CA$1,346.95
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$1,346.95 ÷ (1 + 10.49%)10
CA$496.73
DB:39B Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$484.00 + CA$496.73
CA$980.73
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$980.73 / 265.94
CA$3.69
DB:39B Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:39B represents 0.52308x of TSX:BIR
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.52308x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (CAD) x Listing Adjustment Factor
= CA$ 3.69 x 0.52308
€1.93
Value per share (EUR) From above. €1.93
Current discount Discount to share price of €0.41
= -1 x (€0.41 - €1.93) / €1.93
78.9%

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

Current Discount
Amount off the current price Birchcliff Energy is available for.
Intrinsic value
>50%
Share price is €0.41 vs Future cash flow value of €1.93
Current Discount Checks
For Birchcliff Energy to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Birchcliff Energy's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Birchcliff Energy's share price is below the future cash flow value, and at a substantial discount (> 40%).
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
DB:39B PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$-0.22
TSX:BIR Share Price ** TSX (2020-03-30) in CAD CA$0.78
Europe Oil and Gas Industry PE Ratio Median Figure of 105 Publicly-Listed Oil and Gas Companies 5.67x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.36x

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

** Primary Listing of Birchcliff Energy.

DB:39B PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 0.78 ÷ -0.22

-3.48x

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

  • Birchcliff Energy is loss making, we can't compare its value to the Europe Oil and Gas industry average.
  • Birchcliff Energy is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Birchcliff Energy's expected growth come at a high price?
Raw Data
DB:39B PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -3.48x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
107.9%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 65 Publicly-Listed Oil and Gas Companies 0.17x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Birchcliff Energy, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Birchcliff Energy's assets?
Raw Data
DB:39B PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$6.22
TSX:BIR Share Price * TSX (2020-03-30) in CAD CA$0.78
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 0.94x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.43x
DB:39B PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.78 ÷ 6.22

0.13x

* 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 DE 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 4 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
107.9%
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 -0.4%.
Growth vs Market Checks
  • Birchcliff Energy's earnings growth is expected to exceed the Germany market average.
  • Birchcliff Energy's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:39B Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:39B Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 107.9%
DB:39B Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 4.8%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 13%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*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
DB:39B Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:39B Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 681 313 89 3
2020-12-31 558 230 58 4
2020-03-30
DB:39B Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 606 327 -60
2019-09-30 578 334 30
2019-06-30 598 353 84
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

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Birchcliff Energy's earnings are expected to grow significantly at over 20% yearly.
  • Birchcliff Energy's revenue is expected to grow by 4.8% 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
DB:39B Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Birchcliff Energy Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:39B Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.17 0.32 0.04 3.00
2020-12-31 -0.02 0.20 -0.20 3.00
2020-03-30
DB:39B Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31 -0.22
2019-09-30 0.11
2019-06-30 0.32
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

*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.
  • Birchcliff Energy is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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 4/6, 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 does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Birchcliff Energy's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Birchcliff Energy's 1-year growth to the Europe Oil and Gas industry average as it is not currently profitable.
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 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:39B Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 606.24 -59.58 31.09
2019-09-30 577.57 30.31 34.46
2019-06-30 598.12 83.85 33.76
2019-03-31 603.54 99.75 32.33
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

*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.
  • It is difficult to establish if Birchcliff Energy has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Birchcliff Energy used its assets less efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • It is difficult to establish if Birchcliff Energy improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
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 0/6, 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 2 months ago.

DB:39B Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,695.62 659.02 0.07
2019-09-30 1,719.83 688.40 0.07
2019-06-30 1,772.09 671.97 0.02
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
  • Birchcliff Energy's level of debt (38.9%) 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 (46.8% vs 38.9% today).
  • Debt is well covered by operating cash flow (49.6%, greater than 20% of total debt).
  • Birchcliff Energy is making a loss, therefore interest payments are not well covered by earnings.
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 3/6, 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
13.46%
Current annual income from Birchcliff Energy dividends. Estimated to be 13.97% next year.
If you bought €2,000 of Birchcliff Energy shares you are expected to receive €269 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 Germany (1.7%).
  • Birchcliff Energy's dividend is above the markets top 25% of dividend payers in Germany (4.97%).
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
DB:39B 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 4 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 9.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 1%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

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

DB:39B Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.11 8.00
2020-12-31 0.11 11.00
2020-03-30
DB:39B Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2020-02-26 0.105 11.539
2019-11-26 0.105 5.095
2019-09-03 0.105 4.950
2019-06-04 0.105 4.235
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 3 years.
Current Payout to shareholders
What portion of Birchcliff Energy's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.9x 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 1%) - 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 15.7 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 whilst company is loss making.
  • Jeff's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure of the Birchcliff Energy management team in years:

15.7
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
15.7 yrs

Bruno Geremia

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

Myles Bosman

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

Gates Aurigemma

TITLE
Manager of General Accounting
TENURE
14.8 yrs

Jesse Doenz

TITLE
Controller & Manager of Investor Relations
TENURE
15.4 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:

2.8
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
2.8 yrs

Dennis Dawson

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

Debbie Gerlach

TITLE
Independent Director
COMPENSATION
CA$190K
AGE
57
TENURE
2.3 yrs

Jim Surbey

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

Stacey McDonald

TITLE
Independent Director
COMPENSATION
CA$6K
AGE
34
TENURE
1.3 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 (€)
25. Mar 20 Buy Debra Gerlach Individual 25. Mar 20 25. Mar 20 10,000 €0.48 €4,835
25. Mar 20 Buy Stacey McDonald Individual 25. Mar 20 25. Mar 20 15,000 €0.50 €7,542
23. Mar 20 Buy David Humphreys Individual 20. Mar 20 20. Mar 20 80,000 €0.45 €35,674
17. Mar 20 Buy Dennis Dawson Individual 17. Mar 20 17. Mar 20 70,000 €0.46 €31,877
16. Mar 20 Buy Debra Gerlach Individual 16. Mar 20 16. Mar 20 10,000 €0.50 €5,003
16. Mar 20 Buy Christopher Carlsen Individual 16. Mar 20 16. Mar 20 6,000 €0.50 €3,002
16. Mar 20 Buy James Surbey Individual 16. Mar 20 16. Mar 20 51,300 €0.50 €22,779
13. Mar 20 Buy James Surbey Individual 13. Mar 20 13. Mar 20 90,000 €0.56 €50,058
13. Mar 20 Buy A. Tonken Individual 13. Mar 20 13. Mar 20 10,000 €0.55 €5,497
25. Feb 20 Buy Christopher Carlsen Individual 25. Feb 20 25. Feb 20 20,000 €1.07 €21,444
25. Feb 20 Buy Myles Bosman Individual 25. Feb 20 25. Feb 20 14,200 €1.11 €15,814
25. Feb 20 Buy James Surbey Individual 25. Feb 20 25. Feb 20 100,000 €1.09 €108,603
24. Feb 20 Buy James Surbey Individual 24. Feb 20 24. Feb 20 40,000 €1.16 €45,048
21. Feb 20 Buy A. Tonken Individual 21. Feb 20 21. Feb 20 10,000 €1.19 €11,914
19. Feb 20 Buy Debra Gerlach Individual 18. Feb 20 18. Feb 20 10,000 €1.19 €11,851
19. Feb 20 Buy David Humphreys Individual 19. Feb 20 19. Feb 20 9,200 €1.22 €11,212
19. Feb 20 Buy James Surbey Individual 18. Feb 20 18. Feb 20 60,000 €1.19 €71,039
18. Feb 20 Buy Christopher Carlsen Individual 18. Feb 20 18. Feb 20 28,800 €1.19 €34,029
18. Feb 20 Buy David Humphreys Individual 14. Feb 20 14. Feb 20 7,350 €1.20 €8,798
08. Jan 20 Buy Christopher Carlsen Individual 08. Jan 20 08. Jan 20 5,860 €1.71 €9,971
08. Jan 20 Buy David Humphreys Individual 08. Jan 20 08. Jan 20 4,175 €1.63 €6,794
07. Jan 20 Buy Bruno Geremia Individual 07. Jan 20 07. Jan 20 5,200 €1.71 €8,881
07. Jan 20 Buy A. Tonken Individual 07. Jan 20 07. Jan 20 20,000 €1.72 €34,495
19. Nov 19 Buy James Surbey Individual 19. Nov 19 19. Nov 19 50,000 €1.36 €68,228
18. Nov 19 Buy Christopher Carlsen Individual 18. Nov 19 18. Nov 19 4,200 €1.40 €5,856
10. Oct 19 Buy James Surbey Individual 09. Oct 19 09. Oct 19 20,000 €1.33 €26,656
09. Oct 19 Buy David Humphreys Individual 09. Oct 19 09. Oct 19 6,500 €1.35 €8,724
08. Oct 19 Buy Bruno Geremia Individual 08. Oct 19 08. Oct 19 4,000 €1.38 €5,505
03. Oct 19 Buy A. Tonken Individual 02. Oct 19 02. Oct 19 11,000 €1.39 €15,261
16. Sep 19 Buy James Surbey Individual 13. Sep 19 13. Sep 19 400 €1.58 €632
03. Sep 19 Buy Bruno Geremia Individual 03. Sep 19 03. Sep 19 5,000 €1.20 €5,981
29. Aug 19 Buy Myles Bosman Individual 28. Aug 19 28. Aug 19 50,000 €1.31 €65,357
26. Aug 19 Buy James Surbey Individual 23. Aug 19 26. Aug 19 40,000 €1.31 €51,688
21. Aug 19 Buy Christopher Carlsen Individual 19. Aug 19 19. Aug 19 6,000 €1.36 €8,140
21. Aug 19 Buy Dennis Dawson Individual 21. Aug 19 21. Aug 19 10,000 €1.48 €14,801
20. Aug 19 Buy Debra Gerlach Individual 16. Aug 19 16. Aug 19 10,000 €1.34 €13,426
20. Aug 19 Buy James Surbey Individual 16. Aug 19 16. Aug 19 100,000 €1.35 €133,718
17. Jul 19 Buy Bruno Geremia Individual 17. Jul 19 17. Jul 19 1,600 €1.99 €3,181
15. Jul 19 Buy David Humphreys Individual 15. Jul 19 15. Jul 19 7,400 €1.94 €14,362
08. Jul 19 Buy Christopher Carlsen Individual 08. Jul 19 08. Jul 19 3,500 €1.87 €6,559
02. Jul 19 Buy A. Tonken Individual 02. Jul 19 02. Jul 19 8,235 €1.73 €14,224
12. Jun 19 Buy James Surbey Individual 11. Jun 19 11. Jun 19 12,000 €1.92 €22,696
11. Jun 19 Buy Debra Gerlach Individual 11. Jun 19 11. Jun 19 5,000 €1.89 €9,446
11. Jun 19 Buy James Surbey Individual 10. Jun 19 10. Jun 19 14,000 €1.93 €26,818
06. Jun 19 Buy Debra Gerlach Individual 06. Jun 19 06. Jun 19 5,000 €1.97 €9,840
06. Jun 19 Buy Stacey McDonald Individual 05. Jun 19 05. Jun 19 15,000 €2.01 €30,060
03. Jun 19 Buy Christopher Carlsen Individual 31. May 19 31. May 19 4,580 €2.09 €9,565
03. Jun 19 Buy Myles Bosman Individual 31. May 19 31. May 19 3,095 €2.10 €6,501
03. Jun 19 Buy A. Tonken Individual 31. May 19 31. May 19 2,000 €2.09 €4,181
29. May 19 Buy David Humphreys Individual 29. May 19 29. May 19 3,550 €2.16 €7,661
28. May 19 Buy Debra Gerlach Individual 28. May 19 28. May 19 5,000 €2.26 €11,288
22. Apr 19 Buy A. Tonken Individual 22. Apr 19 22. Apr 19 7,100 €2.46 €17,492
03. Apr 19 Buy A. Tonken Individual 03. Apr 19 03. Apr 19 6,000 €2.38 €14,265
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 193,049.6 net acres of undeveloped land, as well as proved plus probable reserves of 1,032.2 million barrels of oil equivalent. Birchcliff Energy Ltd. was founded in 2004 and is headquartered in Calgary, Canada.

Details
Name: Birchcliff Energy Ltd.
39B
Exchange: DB
Founded: 2004
CA$110,774,379
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
OTCPK BCHF.P REDEEMABLE PFD A Pink Sheets LLC US 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
205
Birchcliff Energy employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/30 21:34
End of day share price update: 2020/03/30 00:00
Last estimates confirmation: 2020/03/30
Last earnings filing: 2020/03/11
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.