Beach Energy (OTCMKTS:BCHEY) Shares Down 7.5% – Time to Sell?

Shares of Beach Energy Limited (OTCMKTS:BCHEY) dropped 7.5% on Monday . The company traded as low as $15.40 and last traded at $15.40. Approximately 304 shares traded hands during trading, a decline of 57% from the average daily volume of 700 shares. The stock had previously closed at $16.65.

Wall Street Analyst Weigh In

Separately, Citigroup downgraded shares of Beach Energy from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, January 15th.

Beach Energy Stock Down 7.5 %

The company’s 50 day simple moving average is $16.22 and its 200-day simple moving average is $16.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.84 and a quick ratio of 0.61.

Beach Energy Increases Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, February 28th will be paid a dividend of $0.3769 per share. This is a positive change from Beach Energy’s previous dividend of $0.21. The ex-dividend date is Friday, February 28th.

About Beach Energy

Beach Energy Limited operates as an oil and gas exploration and production company. It engages in the operated and non-operated, onshore and offshore, and oil and gas production in five producing basins across Australia and New Zealand. The company also explores, develops, produces, and transports hydrocarbons; and sells gas and liquid hydrocarbons.