Birchcliff Energy (TSE:BIR) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Birchcliff Energy Ltd. (TSE:BIR) shares passed 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.

Wall Street Analysts Forecast Growth

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

Birchcliff Energy Stock Performance

The stock’s 50-day moving average is C$5.15 and its 200-day moving average is C$5.63. The company has a debt-to-equity ratio of 22.26, a current ratio of 1.52 and a quick ratio of 0.97. The stock has a market cap of C$1.59 billion, a price-to-earnings ratio of 36.88, a price-to-earnings-growth ratio of 0.35 and a beta of 1.93.

Birchcliff Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were given a $0.10 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.40 annualized dividend and a dividend yield of 6.78%. 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 stock in a transaction on Friday, November 22nd. The stock was sold at an average price of C$5.53, for a total value of C$1,106,000.00. Also, 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 transaction of C$157,628.00. Over the last quarter, insiders sold 260,000 shares of company stock valued at $1,409,488. 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.