Birchcliff Energy (TSE:BIR) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Birchcliff Energy Ltd. (TSE:BIR)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$6.69 and traded as high as C$7.32. Birchcliff Energy shares last traded at C$7.28, with a volume of 1,627,215 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BIR. Scotiabank cut their target price on Birchcliff Energy from C$10.00 to C$9.00 in a research report on Thursday, October 9th. Cibc Captl Mkts lowered Birchcliff Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 13th. Haywood Securities raised their target price on Birchcliff Energy from C$8.00 to C$10.00 in a research note on Monday, December 22nd. National Bankshares dropped their price target on shares of Birchcliff Energy from C$9.25 to C$9.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 22nd. Finally, BMO Capital Markets raised shares of Birchcliff Energy from a “hold” rating to an “outperform” rating and upped their price target for the company from C$7.50 to C$8.50 in a report on Monday, December 15th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Birchcliff Energy currently has a consensus rating of “Buy” and a consensus price target of C$8.33.

Birchcliff Energy Price Performance

The stock has a 50 day moving average of C$7.33 and a two-hundred day moving average of C$6.69. The company has a debt-to-equity ratio of 27.63, a quick ratio of 0.97 and a current ratio of 1.01. The stock has a market cap of C$1.99 billion, a PE ratio of 26.96, a PEG ratio of 0.35 and a beta of -0.08.

Birchcliff Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.03 per share. The ex-dividend date was Monday, December 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.6%. Birchcliff Energy’s payout ratio is currently 70.37%.

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. To get the full value out of its natural gas wells, several gas plants are completely owned and operated for gas processing purposes.