Birchcliff Energy (TSE:BIR) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Birchcliff Energy Ltd. (TSE:BIR)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$6.71 and traded as high as C$7.09. Birchcliff Energy shares last traded at C$7.03, with a volume of 933,390 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BIR shares. National Bankshares reduced their target price on Birchcliff Energy from C$9.25 to C$9.00 and set an “outperform” rating for the company in a research report on Wednesday, October 22nd. Haywood Securities boosted their price objective on Birchcliff Energy from C$8.00 to C$10.00 in a report on Monday, December 22nd. BMO Capital Markets raised shares of Birchcliff Energy from a “hold” rating to an “outperform” rating and raised their target price for the company from C$7.50 to C$8.50 in a research note on Monday, December 15th. CIBC lifted their target price on shares of Birchcliff Energy from C$8.50 to C$9.50 in a research report on Wednesday, October 15th. Finally, Scotiabank decreased their price target on shares of Birchcliff Energy from C$10.00 to C$9.00 in a report on Thursday, October 9th. Four analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$8.44.

Birchcliff Energy Stock Performance

The firm has a market cap of C$1.95 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 0.35 and a beta of -0.08. The company has a 50 day simple moving average of C$7.30 and a 200-day simple moving average of C$6.71. The company has a debt-to-equity ratio of 27.63, a current ratio of 1.01 and a quick ratio of 0.97.

Birchcliff Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.12 annualized dividend and a dividend yield of 1.7%. Birchcliff Energy’s dividend payout ratio (DPR) is currently 70.37%.

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.