Birchcliff Energy (TSE:BIR) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Birchcliff Energy Ltd. (TSE:BIR) crossed 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 trading hands.

Analyst Ratings Changes

BIR has been the subject of a number of analyst reports. CIBC boosted their price objective on shares of Birchcliff Energy from C$5.75 to C$6.00 in a research note on Friday. National Bankshares decreased their price target on shares of Birchcliff Energy from C$6.50 to C$6.00 in a report on Friday, September 27th. Scotiabank upgraded Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research note on Friday. Canaccord Genuity Group decreased their target price on Birchcliff Energy from C$6.00 to C$5.75 in a research note on Friday, November 15th. Finally, Cormark raised Birchcliff Energy to a “strong-buy” rating in a report on Monday, September 23rd. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$6.48.

Birchcliff Energy Stock Up 3.4 %

The firm has a 50 day moving average of C$5.25 and a 200-day moving average of C$5.61. 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 capitalization of C$1.56 billion, a P/E ratio of 36.19, a price-to-earnings-growth ratio of 0.35 and a beta of 1.93.

Birchcliff Energy Dividend Announcement

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

Insider Buying and Selling

In other Birchcliff Energy 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 31,400 shares of the stock in a transaction that occurred 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. Insiders sold a total of 260,000 shares of company stock valued at $1,409,488 over the last ninety days. 1.55% of the stock is owned by company 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.