Beach Energy (OTCMKTS:BCHEY) Stock Price Crosses Below Fifty Day Moving Average - Here's What Happened

Key Points

• Beach Energy's stock price has fallen below its fifty day moving average of $17.05, trading at $16.39.
• UBS Group has downgraded Beach Energy from a "strong-buy" to a "hold" rating, with one analyst issuing a Sell rating.
• The company has announced an increase in its dividend to $0.7105 per share, representing a substantial dividend yield of 591.0%.

Beach Energy Ltd. (OTCMKTS:BCHEY - Get Free Report) shares crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $17.05 and traded as low as $16.39. Beach Energy shares last traded at $16.39, with a volume of 0 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, UBS Group cut shares of Beach Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 11th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce".

Beach Energy Trading Down 4.5%

The company has a debt-to-equity ratio of 0.01, a current ratio of 0.70 and a quick ratio of 0.50. The company has a fifty day simple moving average of $17.05 and a 200-day simple moving average of $16.64.

Beach Energy Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 1st will be issued a dividend of $0.7105 per share. This is a positive change from Beach Energy's previous dividend of $0.38. This represents a dividend yield of 591.0%. The ex-dividend date of this dividend is Friday, August 29th.

Beach Energy Company Profile

Beach Energy Limited operates as an oil and gas exploration and production company. It engages in the operated and non-operated, onshore and offshore, and oil and gas production in five producing basins across Australia and New Zealand. The company also explores, develops, produces, and transports hydrocarbons; and sells gas and liquid hydrocarbons.

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