Beach Energy (OTCMKTS:BCHEY) Shares Cross Below 50-Day Moving Average – Time to Sell?

Beach Energy Ltd. (OTCMKTS:BCHEY) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $17.29 and traded as low as $17.18. Beach Energy shares last traded at $17.18, with a volume of 0 shares changing hands.

Analyst Upgrades and Downgrades

Separately, UBS Group cut Beach Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 11th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce”.

Beach Energy Price Performance

The company has a 50 day moving average of $17.29 and a 200 day moving average of $16.56. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.01.

Beach Energy Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 1st will be issued a $0.7105 dividend. This is an increase from Beach Energy’s previous dividend of $0.38. The ex-dividend date is Friday, August 29th. This represents a yield of 591.0%.

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.