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Birchcliff Energy (TSE:BIR) Shares Pass Above 200 Day Moving Average - Here's Why

Birchcliff Energy logo with Energy background

Birchcliff Energy Ltd. (TSE:BIR - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$6.07 and traded as high as C$7.50. Birchcliff Energy shares last traded at C$7.47, with a volume of 710,998 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently commented on BIR shares. CIBC raised Birchcliff Energy from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from C$7.00 to C$8.00 in a research note on Thursday, March 13th. Royal Bank Of Canada raised their price objective on Birchcliff Energy from C$7.00 to C$8.00 and gave the stock an "outperform" rating in a report on Monday. Canaccord Genuity Group upgraded Birchcliff Energy from a "hold" rating to a "buy" rating and raised their target price for the company from C$6.00 to C$7.00 in a report on Thursday, March 13th. Raymond James Financial set a C$7.50 price objective on Birchcliff Energy and gave the stock a "market perform" rating in a report on Tuesday, April 8th. Finally, Cormark upgraded Birchcliff Energy to a "strong-buy" rating in a report on Thursday, March 13th. Six research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of C$7.25.

View Our Latest Stock Report on BIR

Birchcliff Energy Stock Down 1.9%

The company has a market cap of C$1.92 billion, a price-to-earnings ratio of 123.84, a price-to-earnings-growth ratio of 0.35 and a beta of 1.93. The company has a debt-to-equity ratio of 27.63, a quick ratio of 0.97 and a current ratio of 1.01. The business's 50 day simple moving average is C$6.74 and its 200-day simple moving average is C$6.10.

Birchcliff Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were given a $0.03 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.70%. Birchcliff Energy's dividend payout ratio is currently 700.63%.

Insider Activity at Birchcliff Energy

In other news, Senior Officer Robyn Bourgeois sold 26,800 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was 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 business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of C$7.39, for a total transaction of C$884,583.00. In the last quarter, insiders have sold 147,100 shares of company stock worth $1,077,277. Corporate insiders own 1.55% of the company's stock.

About Birchcliff Energy

(Get Free Report)

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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