Birchcliff Energy (TSE:BIR) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Birchcliff Energy Ltd. (TSE:BIR - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$5.61 and traded as high as C$5.96. Birchcliff Energy shares last traded at C$5.79, with a volume of 936,178 shares.

Analysts Set New Price Targets

Several equities analysts have weighed in on BIR shares. Cormark raised Birchcliff Energy to a "strong-buy" rating in a research note on Monday, September 23rd. Scotiabank lowered their price objective on shares of Birchcliff Energy from C$7.50 to C$7.00 and set a "sector perform" rating on the stock in a research report on Wednesday, October 16th. Canaccord Genuity Group cut their target price on shares of Birchcliff Energy from C$6.00 to C$5.75 in a research report on Friday, November 15th. National Bankshares lowered their price target on shares of Birchcliff Energy from C$6.50 to C$6.00 in a report on Friday, September 27th. Finally, TD Securities dropped their price target on shares of Birchcliff Energy from C$5.50 to C$5.00 in a research note on Tuesday, October 1st. Seven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of C$6.45.

Birchcliff Energy Price Performance

The company's 50-day simple moving average is C$5.23 and its 200 day simple moving average is C$5.61. The stock has a market capitalization of C$1.51 billion, a price-to-earnings ratio of 35.00, a P/E/G ratio of 0.35 and a beta of 1.93. The company has a quick ratio of 0.97, a current ratio of 1.52 and a debt-to-equity ratio of 22.26.

Birchcliff Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.14%. The ex-dividend date was Friday, December 13th. Birchcliff Energy's payout ratio is 250.00%.

Insider Buying and Selling

In other news, Director Aaron Jeffery Tonken sold 200,000 shares of the firm's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of C$5.53, for a total value of C$1,106,000.00. Also, Senior Officer Hue Tran sold 28,600 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of C$5.10, for a total value of C$145,860.00. In the last ninety days, insiders sold 260,000 shares of company stock worth $1,409,488. 1.55% of the stock is currently owned by 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.