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

Birchcliff Energy Ltd. (TSE:BIR) 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 Ratings Changes

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

Birchcliff Energy Stock Performance

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

Birchcliff Energy Announces Dividend

The company also recently declared 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 6.78%. The ex-dividend date of this dividend was Friday, December 13th. Birchcliff Energy’s dividend payout ratio is presently 250.00%.

Insider Activity

In related news, Director Aaron Jeffery Tonken sold 200,000 shares of Birchcliff Energy stock in a transaction that occurred on 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 28,600 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of C$5.10, for a total value of C$145,860.00. Insiders sold 260,000 shares of company stock worth $1,409,488 over the last three months. 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.