Birchcliff Energy (TSE:BIR) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Birchcliff Energy Ltd. (TSE:BIR)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$5.57 and traded as high as C$6.03. Birchcliff Energy shares last traded at C$5.98, with a volume of 841,273 shares.

Analysts Set New Price Targets

BIR has been the topic of a number of recent research reports. Cormark upgraded shares of Birchcliff Energy to a “strong-buy” rating in a report on Thursday, March 13th. Scotiabank raised shares of Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research report on Friday, January 17th. Canaccord Genuity Group upgraded Birchcliff Energy from a “hold” rating to a “buy” rating and raised their price objective for the company from C$6.00 to C$7.00 in a report on Thursday, March 13th. National Bank Financial upgraded shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, Cibc World Mkts raised shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 13th. One research analyst has rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Birchcliff Energy currently has a consensus rating of “Buy” and a consensus price target of C$7.09.

Birchcliff Energy Trading Up 2.8 %

The business’s 50-day moving average is C$5.89 and its 200 day moving average is C$5.58. The firm has a market capitalization of C$1.67 billion, a P/E ratio of 107.72, a price-to-earnings-growth ratio of 0.35 and a beta of 1.93. 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 Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were paid a dividend of $0.03 per share. The ex-dividend date was Friday, March 14th. This represents a $0.12 dividend on an annualized basis and a yield of 1.95%. Birchcliff Energy’s dividend payout ratio (DPR) is presently 700.63%.

Insider Activity at Birchcliff Energy

In other news, Senior Officer Hue Tran sold 30,000 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of C$6.30, for a total value of C$189,000.00. 1.55% of the stock is owned by insiders.

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.