Birchcliff Energy (TSE:BIR) Shares Pass Above 200 Day Moving Average - What's Next?

Shares of Birchcliff Energy Ltd. (TSE:BIR - Get Free Report) crossed 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.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BIR shares. Royal Bank Of Canada raised their target price on shares of Birchcliff Energy from C$7.00 to C$8.00 and gave the company an "outperform" rating in a report on Monday, June 30th. National Bankshares boosted their price target on Birchcliff Energy from C$8.00 to C$8.50 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Finally, Raymond James Financial set a C$7.50 target price on Birchcliff Energy and gave the stock 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 issued a strong buy rating to the stock. According to data from MarketBeat, Birchcliff Energy currently has an average rating of "Buy" and a consensus target price of C$7.34.

Birchcliff Energy Stock Down 2.4%

The firm has a market cap of C$1.84 billion, a P/E ratio of 118.58, a PEG ratio of 0.35 and a beta of 1.93. 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 stock's 50-day simple moving average is C$6.97 and its 200 day simple moving average is C$6.26.

Birchcliff Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Friday, June 13th. Birchcliff Energy's payout ratio is 700.63%.

Insider Activity

In other news, Senior Officer Robyn Bourgeois sold 26,800 shares of Birchcliff Energy stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of C$7.04, for a total value of C$188,672.00. Also, Director Aaron Jeffery Tonken sold 119,700 shares of the company's stock in a transaction on Friday, June 13th. The shares were 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 in the last three months. 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.