Birchcliff Energy (TSE:BIR) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Birchcliff Energy Ltd. (TSE:BIR)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$5.59 and traded as high as C$5.84. Birchcliff Energy shares last traded at C$5.69, with a volume of 609,157 shares.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. National Bank Financial raised Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. National Bankshares upgraded shares of Birchcliff Energy from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from C$6.00 to C$8.00 in a research note on Thursday, January 30th. TD Securities upgraded shares of Birchcliff Energy from a “hold” rating to a “buy” rating and raised their price target for the company from C$5.50 to C$7.00 in a research report on Thursday, January 30th. Canaccord Genuity Group cut their price objective on shares of Birchcliff Energy from C$6.00 to C$5.75 in a report on Friday, November 15th. Finally, CIBC increased their target price on shares of Birchcliff Energy from C$5.75 to C$6.00 in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Birchcliff Energy has a consensus rating of “Buy” and an average target price of C$6.82.

Birchcliff Energy Price Performance

The company has a 50-day moving average of C$5.44 and a 200 day moving average of C$5.59. The company has a quick ratio of 0.97, a current ratio of 1.52 and a debt-to-equity ratio of 22.26. The stock has a market capitalization of C$1.55 billion, a PE ratio of 35.88, a PEG ratio of 0.35 and a beta of 1.93.

Birchcliff Energy Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 6.97%. The ex-dividend date was Friday, December 13th. Birchcliff Energy’s dividend payout ratio is currently 250.00%.

Insider Activity at Birchcliff Energy

In other news, Director Aaron Jeffery Tonken sold 200,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were 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 28,600 shares of Birchcliff Energy stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of C$5.10, for a total transaction of C$145,860.00. In the last quarter, insiders sold 260,000 shares of company stock valued at $1,409,488. Corporate 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.