Birchcliff Energy (TSE:BIR) Shares Pass Above 200-Day Moving Average – What’s Next?

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$5.60 and traded as high as C$5.76. Birchcliff Energy shares last traded at C$5.68, with a volume of 428,081 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Cormark raised shares of Birchcliff Energy to a “strong-buy” rating in a research report on Thursday, March 13th. Cibc World Mkts raised Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 13th. Raymond James set a C$7.50 price target on Birchcliff Energy and gave the company a “market perform” rating in a research report on Tuesday, April 8th. Scotiabank raised Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research note on Friday, January 17th. Finally, TD Securities raised shares of Birchcliff Energy from a “hold” rating to a “buy” rating and increased their target price for the stock from C$5.50 to C$7.00 in a research report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$7.09.

Birchcliff Energy Price Performance

The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 27.63. The stock has a market cap of C$1.54 billion, a PE ratio of 99.49, a P/E/G ratio of 0.35 and a beta of 1.93. The company’s 50 day moving average is C$5.92 and its 200-day moving average is C$5.60.

Birchcliff Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, March 14th. Birchcliff Energy’s dividend payout ratio (DPR) is 700.63%.

Insider Buying and Selling at Birchcliff Energy

In other news, Senior Officer Hue Tran sold 30,000 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of C$6.30, for a total transaction of C$189,000.00. Insiders sold a total of 32,600 shares of company stock worth $205,716 in the last 90 days. 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.