Birchcliff Energy (TSE:BIR) Stock Passes Above 200 Day Moving Average of $4.14

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$4.14 and traded as high as C$6.60. Birchcliff Energy shares last traded at C$6.58, with a volume of 2,183,168 shares.

Several analysts recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of Birchcliff Energy to C$5.50 in a report on Thursday, August 12th. CIBC reissued an “outperform” rating and set a C$6.50 target price on shares of Birchcliff Energy in a research note on Friday, August 13th. Royal Bank of Canada increased their target price on Birchcliff Energy to C$6.00 and gave the stock an “outperform” rating in a research note on Thursday, August 12th. Cormark increased their target price on Birchcliff Energy to C$9.00 in a research note on Thursday, August 12th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Birchcliff Energy in a research note on Thursday, September 16th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Birchcliff Energy presently has an average rating of “Buy” and an average price target of C$5.91.

The company has a fifty day simple moving average of C$5.27 and a two-hundred day simple moving average of C$4.14. The company has a current ratio of 0.41, a quick ratio of 0.36 and a debt-to-equity ratio of 45.73. The company has a market cap of C$1.76 billion and a PE ratio of 19.70.

Birchcliff Energy (TSE:BIR) last issued its quarterly earnings results on Wednesday, August 11th. The oil and natural gas company reported C$0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.13 by C$0.03. The company had revenue of C$193.64 million for the quarter, compared to analysts’ expectations of C$188.00 million. On average, research analysts anticipate that Birchcliff Energy Ltd. will post 0.81 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Friday, October 1st will be issued a $0.005 dividend. The ex-dividend date is Tuesday, September 14th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.30%. Birchcliff Energy’s payout ratio is currently 5.99%.

In other news, Senior Officer Myles Bosman sold 200,000 shares of the stock in a transaction dated Wednesday, September 15th. The stock was sold at an average price of C$6.53, for a total value of C$1,306,000.00.

About Birchcliff Energy (TSE:BIR)

Birchcliff Energy Ltd., an intermediate oil and natural gas company, acquires, explores for, develops, and produces natural gas, light oil, condensate, and natural gas liquids in Western Canada. The company holds interests in the Montney/Doig resource play, as well as other assets located in the Peace River Arch area of Alberta.

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