Birchcliff Energy (TSE:BIR) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Birchcliff Energy Ltd. (TSE:BIR)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$5.63 and traded as high as C$5.74. Birchcliff Energy shares last traded at C$5.70, with a volume of 675,068 shares changing hands.

Analyst Upgrades and Downgrades

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

Birchcliff Energy Price Performance

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 stock has a market cap of C$1.54 billion, a P/E ratio of 35.63, a P/E/G ratio of 0.35 and a beta of 1.93. The firm has a 50 day moving average price of C$5.14 and a 200 day moving average price of C$5.63.

Birchcliff Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.02%. The ex-dividend date of this dividend was Friday, December 13th. Birchcliff Energy’s dividend payout ratio (DPR) is 250.00%.

Insider Buying and Selling

In other Birchcliff Energy news, Director Aaron Jeffery Tonken sold 200,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were 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 28,600 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of C$5.10, for a total value of C$145,860.00. Over the last 90 days, insiders sold 260,000 shares of company stock worth $1,409,488. 1.55% of the stock is owned by corporate insiders.

Birchcliff Energy Company Profile

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.