Birchcliff Energy (TSE:BIR) Share Price Passes Above 200 Day Moving Average – What’s Next?

Birchcliff Energy Ltd. (TSE:BIR) 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 changing hands.

Analysts Set New Price Targets

A number of analysts recently commented on BIR shares. TD Securities decreased their price objective on Birchcliff Energy from C$5.50 to C$5.00 in a research note on Tuesday, October 1st. Cormark raised Birchcliff Energy to a “strong-buy” rating in a research note on Monday, September 23rd. National Bankshares decreased their price target on Birchcliff Energy from C$6.50 to C$6.00 in a report on Friday, September 27th. 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, Scotiabank lowered their target price on Birchcliff Energy from C$7.50 to C$7.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of C$6.45.

Birchcliff Energy Trading Down 1.7 %

The business’s 50 day moving average price is C$5.22 and its 200-day moving average price is C$5.61. The firm has a market cap of C$1.56 billion, a price-to-earnings ratio of 36.19, a price-to-earnings-growth ratio of 0.35 and a beta of 1.93. The company has a debt-to-equity ratio of 22.26, a quick ratio of 0.97 and a current ratio of 1.52.

Birchcliff Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued 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 is currently 250.00%.

Insider Transactions at Birchcliff Energy

In related news, Director Aaron Jeffery Tonken sold 200,000 shares of the company’s stock in a transaction 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 firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of C$5.02, for a total value of C$157,628.00. In the last ninety days, insiders have sold 260,000 shares of company stock worth $1,409,488. 1.55% of the stock is currently owned by company insiders.

About Birchcliff Energy

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.