Birchcliff Energy (TSE:BIR) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Birchcliff Energy Ltd. (TSE:BIR) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$7.00 and traded as high as C$7.04. Birchcliff Energy shares last traded at C$6.85, with a volume of 2,022,887 shares changing hands.

Analysts Set New Price Targets

Several analysts have commented on the company. Raymond James Financial raised their price objective on Birchcliff Energy from C$8.00 to C$8.50 and gave the company an “outperform” rating in a report on Thursday, May 14th. BMO Capital Markets lowered Birchcliff Energy from an “outperform” rating to a “hold” rating and dropped their price objective for the company from C$8.50 to C$7.00 in a report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$8.57.

Birchcliff Energy Stock Performance

The company has a debt-to-equity ratio of 23.09, a current ratio of 1.17 and a quick ratio of 0.97. The firm has a fifty day simple moving average of C$6.69 and a 200 day simple moving average of C$7.00. The company has a market capitalization of C$1.88 billion, a price-to-earnings ratio of 27.40, a price-to-earnings-growth ratio of 0.35 and a beta of -0.30.

Birchcliff Energy (TSE:BIR) last issued its quarterly earnings data on Wednesday, May 13th. The oil and natural gas company reported C$0.25 EPS for the quarter. Birchcliff Energy had a return on equity of 3.07% and a net margin of 9.59%.The company had revenue of C$217.76 million for the quarter. On average, analysts anticipate that Birchcliff Energy Ltd. will post 0.1118631 earnings per share for the current fiscal year.

Birchcliff Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were paid a $0.03 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.8%. Birchcliff Energy’s payout ratio is currently 48.00%.

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. To get the full value out of its natural gas wells, several gas plants are completely owned and operated for gas processing purposes.