Birchcliff Energy (TSE:BIR) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Birchcliff Energy Ltd. (TSE:BIR)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$6.59 and traded as high as C$7.57. Birchcliff Energy shares last traded at C$7.54, with a volume of 339,240 shares traded.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. CIBC boosted their target price on Birchcliff Energy from C$8.50 to C$9.50 in a research report on Wednesday, October 15th. National Bankshares cut their price objective on Birchcliff Energy from C$9.25 to C$9.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 22nd. Raymond James Financial upgraded Birchcliff Energy from a “hold” rating to a “moderate buy” rating and lifted their target price for the stock from C$7.50 to C$8.00 in a research report on Thursday, August 14th. Atb Cap Markets upgraded shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. Finally, Scotiabank reduced their target price on shares of Birchcliff Energy from C$10.00 to C$9.00 in a research report on Thursday, October 9th. Four analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to MarketBeat.com, Birchcliff Energy currently has an average rating of “Buy” and an average target price of C$8.21.

Birchcliff Energy Stock Performance

The firm’s fifty day moving average price is C$6.46 and its 200 day moving average price is C$6.60. The firm has a market cap of C$2.15 billion, a P/E ratio of 29.11, a price-to-earnings-growth ratio of 0.35 and a beta of 0.01. The company has a debt-to-equity ratio of 27.63, a quick ratio of 0.97 and a current ratio of 1.01.

Birchcliff Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 29th were issued a $0.03 dividend. The ex-dividend date was Monday, September 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.5%. Birchcliff Energy’s dividend payout ratio (DPR) is currently 70.37%.

Birchcliff Energy Company Profile

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.