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

Birchcliff Energy Ltd. (TSE:BIR) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$6.24 and traded as high as C$6.92. Birchcliff Energy shares last traded at C$6.84, with a volume of 380,119 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BIR shares. Royal Bank Of Canada boosted their price target on Birchcliff Energy from C$7.00 to C$8.00 and gave the stock an “outperform” rating in a research note on Monday, June 30th. National Bankshares raised their target price on shares of Birchcliff Energy from C$8.00 to C$8.50 and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Finally, Raymond James Financial set a C$7.50 price objective on shares of Birchcliff Energy and gave the company a “market perform” rating in a research note on Tuesday, April 8th. Six investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Birchcliff Energy currently has a consensus rating of “Buy” and an average target price of C$7.34.

Birchcliff Energy Price 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 company’s 50 day moving average price is C$6.95 and its 200-day moving average price is C$6.24. The stock has a market cap of C$1.85 billion, a P/E ratio of 119.81, a P/E/G ratio of 0.35 and a beta of 1.93.

Birchcliff Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Friday, June 13th. Birchcliff Energy’s dividend payout ratio (DPR) is currently 700.63%.

Insider Transactions at Birchcliff Energy

In related news, Senior Officer Robyn Bourgeois sold 26,800 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of C$7.04, for a total transaction of C$188,672.00. Also, Director Aaron Jeffery Tonken sold 119,700 shares of Birchcliff Energy stock in a transaction dated Friday, June 13th. The stock was sold at an average price of C$7.39, for a total transaction of C$884,583.00. Insiders have sold 147,100 shares of company stock worth $1,077,277 over the last three months. 1.55% of the stock is owned by insiders.

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.