Birchcliff Energy (TSE:BIR) Shares Cross Above 200 Day Moving Average of $7.98

Birchcliff Energy Ltd. (TSE:BIR) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$7.98 and traded as high as C$8.20. Birchcliff Energy shares last traded at C$8.08, with a volume of 1,550,715 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BIR. BMO Capital Markets cut Birchcliff Energy from an “outperform” rating to a “market perform” rating and raised their target price for the company from C$8.75 to C$9.00 in a research note on Thursday, July 13th. National Bankshares lowered their price objective on Birchcliff Energy from C$10.00 to C$9.25 in a research note on Thursday, June 29th. Stifel Nicolaus lifted their price objective on Birchcliff Energy from C$7.80 to C$8.50 in a research note on Friday, August 11th. Finally, Raymond James lifted their price objective on Birchcliff Energy from C$10.50 to C$11.50 and gave the company an “outperform” rating in a research note on Friday, September 8th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$11.02.

Birchcliff Energy Stock Down 1.0 %

The company has a fifty day simple moving average of C$8.07 and a 200-day simple moving average of C$7.98. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 12.77. The firm has a market cap of C$2.15 billion, a P/E ratio of 7.03, a price-to-earnings-growth ratio of 0.35 and a beta of 2.22.

Birchcliff Energy (TSE:BIR) last announced its quarterly earnings data on Thursday, August 10th. The oil and natural gas company reported C$0.16 EPS for the quarter, beating the consensus estimate of C$0.03 by C$0.13. Birchcliff Energy had a return on equity of 13.96% and a net margin of 27.12%. The business had revenue of C$171.29 million for the quarter, compared to the consensus estimate of C$159.90 million. On average, equities analysts anticipate that Birchcliff Energy Ltd. will post 0.8700102 earnings per share for the current year.

Birchcliff Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 29th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.80 annualized dividend and a dividend yield of 9.90%. Birchcliff Energy’s payout ratio is 69.57%.

About Birchcliff Energy

Birchcliff Energy Ltd., an intermediate oil and natural gas company, acquires, explores for, develops, and produces natural gas, light oil, condensate, and other 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.