Birchcliff Energy (TSE:BIR) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Birchcliff Energy Ltd. (TSE:BIR)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$6.78 and traded as high as C$7.20. Birchcliff Energy shares last traded at C$6.98, with a volume of 1,140,537 shares trading hands.

Wall Street Analyst Weigh In

BIR has been the topic of several recent research reports. Haywood Securities upped their price target on shares of Birchcliff Energy from C$8.00 to C$10.00 in a report on Monday, December 22nd. BMO Capital Markets upgraded Birchcliff Energy from a “hold” rating to an “outperform” rating and lifted their price objective for the stock from C$7.50 to C$8.50 in a research report on Monday, December 15th. Finally, Canadian Imperial Bank of Commerce lowered Birchcliff Energy from an “outperform” rating to a “hold” rating and reduced their target price for the company from C$9.50 to C$8.50 in a research note on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$8.50.

Birchcliff Energy Stock Down 0.9%

The stock has a market cap of C$1.92 billion, a price-to-earnings ratio of 25.85, a P/E/G ratio of 0.35 and a beta of -0.07. The company has a current ratio of 1.23, a quick ratio of 0.97 and a debt-to-equity ratio of 28.66. The firm’s 50 day moving average is C$7.07 and its two-hundred day moving average is C$6.78.

Birchcliff Energy (TSE:BIR) last released its quarterly earnings results on Wednesday, February 11th. The oil and natural gas company reported C$0.10 earnings per share (EPS) for the quarter. The company had revenue of C$164.42 million for the quarter. Birchcliff Energy had a net margin of 10.88% and a return on equity of 3.28%. On average, sell-side analysts predict that Birchcliff Energy Ltd. will post 0.1118631 EPS for the current year.

Birchcliff Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, March 13th. Birchcliff Energy’s payout ratio is presently 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.