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

Shares of Birchcliff Energy Ltd. (TSE:BIR) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$5.73 and traded as high as C$6.73. Birchcliff Energy shares last traded at C$6.61, with a volume of 683,255 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BIR. National Bankshares raised their price target on shares of Birchcliff Energy from C$8.00 to C$8.50 and gave the company an “outperform” rating in a research report on Thursday, May 22nd. 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. Cormark raised shares of Birchcliff Energy to a “strong-buy” rating in a research report on Thursday, March 13th. TD Securities raised shares of Birchcliff Energy from a “hold” rating to a “buy” rating and raised their price target for the company from C$5.50 to C$7.00 in a research report on Thursday, January 30th. Finally, Raymond James set a C$7.50 price target on shares of Birchcliff Energy and gave the company a “market perform” rating in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of C$7.16.

Birchcliff Energy Trading Down 0.9%

The firm has a market capitalization of C$1.79 billion, a PE ratio of 115.78, a PEG ratio of 0.35 and a beta of 1.93. The company’s 50-day moving average price is C$6.20 and its 200-day moving average price is C$5.73. The company has a debt-to-equity ratio of 27.63, a quick ratio of 0.97 and a current ratio of 1.01.

Birchcliff Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were given a dividend of $0.03 per share. The ex-dividend date was Friday, March 14th. This represents a $0.12 annualized dividend and a dividend yield of 1.82%. Birchcliff Energy’s dividend payout ratio (DPR) is currently 700.63%.

Insider Buying and Selling

In related news, Senior Officer Hue Tran sold 30,000 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of C$6.30, for a total value of C$189,000.00. Insiders have sold 32,600 shares of company stock worth $205,716 in the last ninety days. 1.55% of the stock is owned by corporate 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.