Birchcliff Energy (TSE:BIR) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

by · The Markets Daily

Birchcliff Energy Ltd. (TSE:BIR – Get Free Report)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$5.61 and traded as high as C$5.96. Birchcliff Energy shares last traded at C$5.79, with a volume of 936,178 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BIR. CIBC lifted their price objective on shares of Birchcliff Energy from C$5.75 to C$6.00 in a research note on Friday. Canaccord Genuity Group cut their price objective on shares of Birchcliff Energy from C$6.00 to C$5.75 in a report on Friday, November 15th. Scotiabank upgraded Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research note on Friday. Cormark upgraded Birchcliff Energy to a “strong-buy” rating in a research note on Monday, September 23rd. Finally, TD Securities reduced their price target on Birchcliff Energy from C$5.50 to C$5.00 in a report on Tuesday, October 1st. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$6.48.

Check Out Our Latest Analysis on BIR

Birchcliff Energy Stock Up 3.4 %

The company has a debt-to-equity ratio of 22.26, a current ratio of 1.52 and a quick ratio of 0.97. The firm has a market cap of C$1.56 billion, a P/E ratio of 36.19, a PEG ratio of 0.35 and a beta of 1.93. The firm’s 50-day moving average price is C$5.25 and its 200 day moving average price is C$5.61.

Birchcliff Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 6.91%. The ex-dividend date was Friday, December 13th. Birchcliff Energy’s dividend payout ratio is presently 250.00%.

Insider Activity

In other Birchcliff Energy news, Senior Officer Hue Tran sold 31,400 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of C$5.02, for a total value of C$157,628.00. Also, Director Aaron Jeffery Tonken sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of C$5.53, for a total value of C$1,106,000.00. In the last ninety days, insiders sold 260,000 shares of company stock worth $1,409,488. 1.55% of the stock is currently owned by insiders.

Birchcliff Energy Company Profile

(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.

Further Reading