Birchcliff Energy (TSE:BIR) Share Price Crosses Above 200-Day Moving Average - Time to Sell?

Birchcliff Energy Ltd. (TSE:BIR - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$6.16 and traded as high as C$6.98. Birchcliff Energy shares last traded at C$6.91, with a volume of 441,613 shares.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BIR shares. Cibc World Mkts raised shares of Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 13th. National Bankshares lifted their target price on shares of Birchcliff Energy from C$8.00 to C$8.50 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada lifted their target price on shares of Birchcliff Energy from C$7.00 to C$8.00 and gave the stock an "outperform" rating in a research report on Monday, June 30th. CIBC upgraded shares of Birchcliff Energy from a "neutral" rating to an "outperform" rating and raised their price target for the stock from C$7.00 to C$8.00 in a research note on Thursday, March 13th. Finally, Cormark upgraded shares of Birchcliff Energy to a "strong-buy" rating in a research note on Thursday, March 13th. Six equities research 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, the company currently has an average rating of "Buy" and a consensus price target of C$7.34.

Birchcliff Energy Stock Performance

The company has a market cap of C$1.88 billion, a PE ratio of 121.21, 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 company's 50 day moving average price is C$6.87 and its 200-day moving average price is C$6.19.

Birchcliff Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 30th were paid 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 yield of 1.73%. Birchcliff Energy's dividend payout ratio is 700.63%.

Insider Buying and Selling

In related 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 Birchcliff Energy stock in a transaction that occurred 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 sold a total of 147,100 shares of company stock valued at $1,077,277 over the last quarter. 1.55% of the stock is 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.