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

Shares of Birchcliff Energy Ltd. (TSE:BIR) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$6.74 and traded as high as C$6.87. Birchcliff Energy shares last traded at C$6.85, with a volume of 2,122,472 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Haywood Securities lifted their target price on Birchcliff Energy from C$8.00 to C$10.00 in a report on Monday, December 22nd. Canadian Imperial Bank of Commerce lowered Birchcliff Energy from an “outperform” rating to a “hold” rating and dropped their price target for the stock from C$9.50 to C$8.50 in a research report on Tuesday, January 13th. Finally, BMO Capital Markets upgraded Birchcliff Energy from a “hold” rating to an “outperform” rating and lifted their price objective for the company from C$7.50 to C$8.50 in a report on Monday, December 15th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$8.50.

Birchcliff Energy Trading Up 3.6%

The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 27.63. The company has a market capitalization of C$1.88 billion, a P/E ratio of 25.37, a price-to-earnings-growth ratio of 0.35 and a beta of 0.07. The business has a fifty day moving average price of C$7.13 and a 200 day moving average price of C$6.75.

Birchcliff Energy (TSE:BIR) last released its quarterly earnings results on Wednesday, February 11th. The oil and natural gas company reported C$0.10 earnings per share for the quarter. Birchcliff Energy had a return on equity of 0.70% and a net margin of 2.04%.The firm had revenue of C$164.42 million during the quarter. On average, analysts expect that Birchcliff Energy Ltd. will post 0.1118631 earnings per share for the current fiscal year.

Birchcliff Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.12 annualized dividend and a yield of 1.8%. Birchcliff Energy’s payout ratio is 70.37%.

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. To get the full value out of its natural gas wells, several gas plants are completely owned and operated for gas processing purposes.