Birchcliff Energy (TSE:BIR) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Shares of Birchcliff Energy Ltd. (TSE:BIR) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$6.98 and traded as high as C$7.09. Birchcliff Energy shares last traded at C$6.91, with a volume of 4,668,925 shares changing hands.

Analyst Upgrades and Downgrades

BIR has been the subject of several research analyst reports. Raymond James Financial upped their price target 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 14th. BMO Capital Markets downgraded shares of Birchcliff Energy from an “outperform” rating to a “hold” rating and decreased their price objective for the stock from C$8.50 to C$7.00 in a research note on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$8.57.

Birchcliff Energy Trading Up 1.6%

The business’s 50-day moving average price is C$6.44 and its 200 day moving average price is C$6.97. 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 market capitalization of C$1.86 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 0.35 and a beta of -0.56.

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

Birchcliff Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, March 13th. Birchcliff Energy’s dividend payout ratio (DPR) is presently 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.