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

Birchcliff Energy Ltd. (TSE:BIR - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$5.59 and traded as high as C$5.84. Birchcliff Energy shares last traded at C$5.69, with a volume of 609,157 shares trading hands.

Wall Street Analyst Weigh In

BIR has been the subject of several research analyst reports. Scotiabank raised Birchcliff Energy from a "sector perform" rating to an "outperform" rating in a research note on Friday, January 17th. TD Securities raised Birchcliff Energy from a "hold" rating to a "buy" rating and lifted their price target for the stock from C$5.50 to C$7.00 in a research note on Thursday, January 30th. National Bank Financial upgraded shares of Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 22nd. National Bankshares upgraded Birchcliff Energy from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from C$6.00 to C$8.00 in a report on Thursday, January 30th. Finally, Canaccord Genuity Group dropped their price objective on Birchcliff Energy from C$6.00 to C$5.75 in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of C$6.82.

Birchcliff Energy Stock Up 1.7 %

The company's fifty day simple moving average is C$5.45 and its 200 day simple moving average is C$5.58. The company has a quick ratio of 0.97, a current ratio of 1.52 and a debt-to-equity ratio of 22.26. The firm has a market capitalization of C$1.57 billion, a PE ratio of 36.50, a price-to-earnings-growth ratio of 0.35 and a beta of 1.93.

Birchcliff Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders 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 6.85%. The ex-dividend date of this dividend was Friday, December 13th. Birchcliff Energy's payout ratio is presently 250.00%.

Insider Transactions at Birchcliff Energy

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