Birchcliff Energy (TSE:BIR) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Birchcliff Energy Ltd. (TSE:BIR)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$6.07 and traded as high as C$7.50. Birchcliff Energy shares last traded at C$7.47, with a volume of 710,998 shares changing hands.

Analyst Ratings Changes

BIR has been the topic of a number of analyst reports. Royal Bank Of Canada lifted their price objective on shares of Birchcliff Energy from C$7.00 to C$8.00 and gave the company an “outperform” rating in a research report on Monday. Canaccord Genuity Group upgraded shares of Birchcliff Energy from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$6.00 to C$7.00 in a research report on Thursday, March 13th. Raymond James Financial set a C$7.50 price objective on shares of Birchcliff Energy and gave the company a “market perform” rating in a research report on Tuesday, April 8th. CIBC upgraded shares of Birchcliff Energy from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from C$7.00 to C$8.00 in a research report on Thursday, March 13th. Finally, Cibc World Mkts upgraded shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 13th. Six equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Birchcliff Energy has a consensus rating of “Buy” and an average target price of C$7.25.

Birchcliff Energy Stock Up 0.3%

The company has a market capitalization of C$2.03 billion, a PE ratio of 130.84, a price-to-earnings-growth ratio of 0.35 and a beta of 1.93. The firm’s 50-day simple moving average is C$6.69 and its 200 day simple moving average is C$6.07. The company has a debt-to-equity ratio of 27.63, a quick ratio of 0.97 and a current ratio of 1.01.

Birchcliff Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 30th were given a $0.03 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.12 annualized dividend and a dividend yield of 1.61%. Birchcliff Energy’s dividend payout ratio is presently 700.63%.

Insider Activity

In related news, Senior Officer Robyn Bourgeois sold 26,800 shares of the business’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of C$7.04, for a total value of C$188,672.00. Also, Director Aaron Jeffery Tonken sold 119,700 shares of the business’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of C$7.39, for a total transaction of C$884,583.00. Insiders sold a total of 147,100 shares of company stock worth $1,077,277 over the last quarter. Insiders own 1.55% of the company’s stock.

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.