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

Birchcliff Energy Ltd. (TSE:BIR) shares 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 Ratings Changes

Several analysts have issued reports on BIR shares. TD Securities cut their price objective on Birchcliff Energy from C$5.50 to C$5.00 in a report on Tuesday, October 1st. National Bankshares cut their price target on shares of Birchcliff Energy from C$6.50 to C$6.00 in a report on Friday, September 27th. Cormark raised shares of Birchcliff Energy to a “strong-buy” rating in a research note on Monday, September 23rd. Scotiabank upgraded shares of Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research report on Friday. Finally, Canaccord Genuity Group reduced their target price on Birchcliff Energy from C$6.00 to C$5.75 in a report on Friday, November 15th. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Birchcliff Energy has an average rating of “Moderate Buy” and an average target price of C$6.48.

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 firm has a market capitalization of C$1.56 billion, a PE ratio of 36.19, a PEG ratio of 0.35 and a beta of 1.93. The firm’s fifty day moving average price is C$5.25 and its 200 day moving average price is C$5.61.

Birchcliff Energy Dividend Announcement

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

Insiders Place Their Bets

In other news, Senior Officer Hue Tran sold 31,400 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of C$5.02, for a total transaction of C$157,628.00. Also, Director Aaron Jeffery Tonken sold 200,000 shares of the firm’s stock in a transaction 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. Insiders have sold a total of 260,000 shares of company stock valued at $1,409,488 in 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.