Birchcliff Energy (TSE:BIR) Stock Crosses Above 200 Day Moving Average of $8.55

Birchcliff Energy Ltd. (TSE:BIRGet Rating) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$8.55 and traded as high as C$9.47. Birchcliff Energy shares last traded at C$9.41, with a volume of 1,134,018 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Raymond James boosted their price target on Birchcliff Energy from C$12.00 to C$12.50 and gave the company an “outperform” rating in a research note on Tuesday, July 5th. Stifel Nicolaus lowered their price target on Birchcliff Energy from C$12.25 to C$11.25 in a research note on Monday, July 4th. CIBC decreased their price objective on Birchcliff Energy from C$15.00 to C$12.00 in a report on Wednesday, July 13th. Scotiabank lifted their price objective on Birchcliff Energy from C$13.00 to C$14.00 in a report on Thursday, July 14th. Finally, National Bankshares decreased their price objective on Birchcliff Energy from C$15.00 to C$13.50 and set an “outperform” rating on the stock in a report on Monday, July 18th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$11.00.

Birchcliff Energy Stock Performance

The company has a debt-to-equity ratio of 22.05, a quick ratio of 0.67 and a current ratio of 0.73. The stock’s 50-day moving average is C$9.99 and its 200 day moving average is C$8.55. The firm has a market cap of C$2.49 billion and a P/E ratio of 6.23.

Birchcliff Energy (TSE:BIRGet Rating) last released its quarterly earnings data on Wednesday, May 11th. The oil and natural gas company reported C$0.46 EPS for the quarter, beating analysts’ consensus estimates of C$0.37 by C$0.09. The firm had revenue of C$285.98 million during the quarter, compared to the consensus estimate of C$273.30 million. On average, research analysts predict that Birchcliff Energy Ltd. will post 1.32 earnings per share for the current year.

Birchcliff Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 30th were paid a $0.02 dividend. The ex-dividend date was Tuesday, June 14th. This is a positive change from Birchcliff Energy’s previous quarterly dividend of $0.01. This represents a $0.08 dividend on an annualized basis and a yield of 0.85%. Birchcliff Energy’s dividend payout ratio is presently 1.99%.

Insider Buying and Selling

In other news, Senior Officer David Humphreys sold 25,000 shares of the stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of C$11.03, for a total transaction of C$275,750.00. In related news, Senior Officer Bruno P. Geremia sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of C$11.10, for a total value of C$1,110,000.00. Also, Senior Officer David Humphreys sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of C$11.03, for a total transaction of C$275,750.00. In the last ninety days, insiders sold 425,000 shares of company stock valued at $5,059,000.

About Birchcliff Energy

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Birchcliff Energy Ltd., an intermediate oil and natural gas company, acquires, explores for, develops, and produces natural gas, light oil, condensate, and natural gas liquids in Western Canada. The company holds interests in the Montney/Doig resource play located approximately 95 km northwest of Grande Prairie, Alberta.

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