Birchcliff Energy (TSE:BIR) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

Birchcliff Energy Ltd. (TSE:BIR) shares passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of C$6.63 and traded as low as C$6.50. Birchcliff Energy shares last traded at C$6.52, with a volume of 1,772,363 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have recently commented on BIR shares. Raymond James Financial cut Birchcliff Energy from a “moderate buy” rating to a “hold” rating and lowered their target price for the company from C$8.50 to C$8.00 in a research note on Wednesday, September 16th. Ventum Financial set a C$8.00 price target on Birchcliff Energy and gave the company a “neutral” rating in a research note on Friday, October 23rd. Five analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$8.30.

Birchcliff Energy Price Performance

The firm has a market capitalization of C$1.79 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 0.35 and a beta of -0.56. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 24.38. The company’s fifty day moving average is C$6.57 and its two-hundred day moving average is C$6.63.

Birchcliff Energy (TSE:BIR) last released its earnings results on Wednesday, August 12th. The oil and natural gas company reported C$0.05 EPS for the quarter. The firm had revenue of C$193.41 million during the quarter. Birchcliff Energy had a net margin of 13.31% and a return on equity of 4.22%. Equities research analysts anticipate that Birchcliff Energy Ltd. will post 0.11 earnings per share for the current fiscal year.

Birchcliff Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Tuesday, September 15th. Birchcliff Energy’s dividend payout ratio (DPR) is currently 34.29%.

Birchcliff Energy Company Profile

Birchcliff is an intermediate oil and natural gas company based in Calgary, Alberta with operations focused on the exploration and development of the Montney Resource Play in Alberta. Birchcliff’s common shares are listed for trading on the Toronto Stock Exchange under the symbol ‘BIR’.