Birchcliff Energy (TSE:BIR) Shares Cross Below 200-Day Moving Average – What’s Next?

Birchcliff Energy Ltd. (TSE:BIR)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$5.65 and traded as low as C$5.10. Birchcliff Energy shares last traded at C$5.32, with a volume of 1,321,155 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Canaccord Genuity Group dropped their price objective on Birchcliff Energy from C$6.00 to C$5.75 in a research note on Friday, November 15th. TD Securities dropped their price objective on shares of Birchcliff Energy from C$5.50 to C$5.00 in a research note on Tuesday, October 1st. Cormark raised Birchcliff Energy to a “strong-buy” rating in a research note on Monday, September 23rd. National Bankshares cut their price target on Birchcliff Energy from C$6.50 to C$6.00 in a report on Friday, September 27th. Finally, Scotiabank decreased their price objective on Birchcliff Energy from C$7.50 to C$7.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$6.45.

Birchcliff Energy Trading Up 5.6 %

The company has a quick ratio of 0.97, a current ratio of 1.52 and a debt-to-equity ratio of 22.26. The business’s fifty day moving average is C$5.12 and its 200-day moving average is C$5.65. The stock has a market capitalization of C$1.43 billion, a PE ratio of 33.25, a P/E/G ratio of 0.35 and a beta of 1.93.

Birchcliff Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.40 annualized dividend and a dividend yield of 7.52%. Birchcliff Energy’s dividend payout ratio is presently 250.00%.

Insider Buying and Selling

In related news, Director Aaron Jeffery Tonken sold 200,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of C$5.53, for a total transaction of C$1,106,000.00. Also, Senior Officer Hue Tran sold 31,400 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of C$5.02, for a total value of C$157,628.00. In the last ninety days, insiders have sold 260,000 shares of company stock valued at $1,409,488. 1.55% of the stock is currently owned by company insiders.

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.