Birchcliff Energy Ltd. (TSE:BIR - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$5.79 and traded as high as C$6.80. Birchcliff Energy shares last traded at C$6.80, with a volume of 400,157 shares trading hands.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on BIR. National Bankshares boosted their price target on Birchcliff Energy from C$8.00 to C$8.50 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Canaccord Genuity Group upgraded Birchcliff Energy from a "hold" rating to a "buy" rating and upped their target price for the company from C$6.00 to C$7.00 in a research report on Thursday, March 13th. Raymond James set a C$7.50 target price on Birchcliff Energy and gave the stock a "market perform" rating in a report on Tuesday, April 8th. Cormark raised Birchcliff Energy to a "strong-buy" rating in a research note on Thursday, March 13th. Finally, Cibc World Mkts upgraded shares of Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 13th. Five investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of C$7.16.
Check Out Our Latest Report on Birchcliff Energy
Birchcliff Energy Stock Performance
The company's 50-day simple moving average is C$6.20 and its 200-day simple moving average is C$5.81. The stock has a market capitalization of C$1.87 billion, a price-to-earnings ratio of 120.68, a PEG ratio of 0.35 and a beta of 1.93. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 27.63.
Birchcliff Energy Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Friday, June 13th. Birchcliff Energy's payout ratio is presently 700.63%.
Insider Buying and Selling at Birchcliff Energy
In other news, Senior Officer Hue Tran sold 30,000 shares of the business's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of C$6.30, for a total value of C$189,000.00. In the last quarter, insiders have sold 32,600 shares of company stock worth $205,716. Insiders own 1.55% of the company's stock.
Birchcliff Energy Company Profile
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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.
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