Birchcliff Energy (TSE:BIR) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Birchcliff Energy Ltd. (TSE:BIR)’s stock price passed 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$6.15. Birchcliff Energy shares last traded at C$6.05, with a volume of 1,087,016 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Canaccord Genuity Group upgraded Birchcliff Energy from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$6.00 to C$7.00 in a research report on Thursday, March 13th. CIBC raised Birchcliff Energy from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from C$7.00 to C$8.00 in a research report on Thursday, March 13th. Scotiabank upgraded shares of Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a report on Friday, January 17th. Cibc World Mkts raised shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 13th. Finally, Raymond James set a C$7.50 price target on shares of Birchcliff Energy and gave the company a “market perform” rating in a research note on Tuesday, April 8th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Birchcliff Energy has an average rating of “Buy” and an average target price of C$7.09.

Birchcliff Energy Trading Up 0.8 %

The company’s 50 day simple moving average is C$5.91 and its 200 day simple moving average is C$5.59. The company has a debt-to-equity ratio of 27.63, a current ratio of 1.01 and a quick ratio of 0.97. The firm has a market cap of C$1.64 billion, a price-to-earnings ratio of 105.97, a P/E/G ratio of 0.35 and a beta of 1.93.

Birchcliff Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were paid a dividend of $0.03 per share. The ex-dividend date was Friday, March 14th. This represents a $0.12 annualized dividend and a yield of 1.98%. Birchcliff Energy’s payout ratio is 700.63%.

Insider Buying and Selling at Birchcliff Energy

In other Birchcliff Energy news, Senior Officer Hue Tran sold 30,000 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of C$6.30, for a total value of C$189,000.00. 1.55% of the stock is owned by corporate insiders.

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.