Birchcliff Energy (TSE:BIR) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Birchcliff Energy Ltd. (TSE:BIR) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$6.91 and traded as low as C$6.38. Birchcliff Energy shares last traded at C$6.48, with a volume of 986,267 shares traded.

Analysts Set New Price Targets

BIR has been the topic of several recent analyst reports. BMO Capital Markets downgraded shares of Birchcliff Energy from an “outperform” rating to a “hold” rating and cut their price objective for the company from C$8.50 to C$7.00 in a research report on Tuesday, April 7th. Raymond James Financial upped their target price on shares of Birchcliff Energy from C$8.00 to C$8.50 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$8.57.

Birchcliff Energy Price Performance

The firm has a 50-day moving average of C$6.41 and a 200 day moving average of C$6.89. The company has a market capitalization of C$1.73 billion, a PE ratio of 25.20, a PEG ratio of 0.35 and a beta of -0.56. The company has a debt-to-equity ratio of 23.09, a current ratio of 1.17 and a quick ratio of 0.97.

Birchcliff Energy (TSE:BIR) last issued its earnings results on Wednesday, May 13th. The oil and natural gas company reported C$0.25 earnings per share for the quarter. The business had revenue of C$217.76 million during the quarter. Birchcliff Energy had a return on equity of 3.07% and a net margin of 9.59%. As a group, research analysts anticipate that Birchcliff Energy Ltd. will post 0.1118631 earnings per share for the current fiscal year.

Birchcliff Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, June 15th. Birchcliff Energy’s payout ratio is presently 48.00%.

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.