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

Birchcliff Energy Ltd. (TSE:BIR) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BIR. CIBC downgraded Birchcliff Energy from an “outperform” rating to a “neutral” rating and lowered their price target for the company from C$9.50 to C$8.50 in a report on Tuesday, January 13th. Haywood Securities raised their price objective on Birchcliff Energy from C$8.00 to C$10.00 in a research report on Monday, December 22nd. National Bankshares dropped their target price on Birchcliff Energy from C$9.25 to C$9.00 and set an “outperform” rating on the stock in a report on Wednesday, October 22nd. Scotiabank reduced their price target on shares of Birchcliff Energy from C$10.00 to C$9.00 in a research report on Thursday, October 9th. Finally, Cibc Captl Mkts cut shares of Birchcliff Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 13th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$8.33.

Birchcliff Energy Stock Performance

The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 27.63. The stock has a market cap of C$1.99 billion, a P/E ratio of 26.96, a price-to-earnings-growth ratio of 0.35 and a beta of -0.08. The firm’s 50-day moving average is C$7.33 and its two-hundred day moving average is C$6.69.

Birchcliff Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, December 15th. Birchcliff Energy’s dividend payout ratio is presently 70.37%.

About Birchcliff Energy

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.