Birchcliff Energy (TSE:BIR) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Birchcliff Energy Ltd. (TSE:BIR)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$5.61 and traded as high as C$5.96. Birchcliff Energy shares last traded at C$5.79, with a volume of 936,178 shares.

Analyst Upgrades and Downgrades

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

Birchcliff Energy Price Performance

The company has a market capitalization of C$1.56 billion, a price-to-earnings ratio of 36.19, a PEG ratio of 0.35 and a beta of 1.93. The stock’s 50-day simple moving average is C$5.22 and its two-hundred day simple moving average is C$5.61. The company has a quick ratio of 0.97, a current ratio of 1.52 and a debt-to-equity ratio of 22.26.

Birchcliff Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a $0.10 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.40 dividend on an annualized basis and a yield of 6.91%. Birchcliff Energy’s payout ratio is 250.00%.

Insiders Place Their Bets

In related news, Senior Officer Hue Tran sold 31,400 shares of the business’s stock in a transaction 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. Also, Director Aaron Jeffery Tonken sold 200,000 shares of the firm’s stock in a transaction that occurred on 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. Over the last 90 days, insiders have sold 260,000 shares of company stock valued at $1,409,488. Insiders own 1.55% of the company’s stock.

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.