Birchcliff Energy (TSE:BIR) Share Price Crosses Above 200 Day Moving Average - Here's Why

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BIR shares. Cibc World Mkts upgraded shares of Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 13th. Canaccord Genuity Group upgraded shares of Birchcliff Energy from a "hold" rating to a "buy" rating and upped their price objective for the stock from C$6.00 to C$7.00 in a research report on Thursday, March 13th. National Bankshares upped their price objective 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. Raymond James Financial set a C$7.50 price target on shares of Birchcliff Energy and gave the company a "market perform" rating in a research report on Tuesday, April 8th. Finally, Cormark upgraded shares of Birchcliff Energy to a "strong-buy" rating in a research report on Thursday, March 13th. Six investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of C$7.34.

Birchcliff Energy Stock Performance

The company has a debt-to-equity ratio of 27.63, a current ratio of 1.01 and a quick ratio of 0.97. The company's 50-day moving average price is C$6.85 and its two-hundred day moving average price is C$6.18. The company has a market capitalization of C$1.86 billion, a price-to-earnings ratio of 120.33, a PEG ratio of 0.35 and a beta of 1.93.

Birchcliff Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 30th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.75%. The ex-dividend date was Friday, June 13th. Birchcliff Energy's dividend payout ratio is presently 700.63%.

Insider Buying and Selling at Birchcliff Energy

In related news, Director Aaron Jeffery Tonken sold 119,700 shares of the 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. Also, Senior Officer Robyn Bourgeois sold 26,800 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of C$7.04, for a total transaction of C$188,672.00. Over the last three months, insiders have sold 147,100 shares of company stock worth $1,077,277. 1.55% of the stock is owned by 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.