Birchcliff Energy (TSE:BIR) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

Birchcliff Energy Ltd. (TSE:BIR)’s share price passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of C$6.63 and traded as low as C$6.50. Birchcliff Energy shares last traded at C$6.52, with a volume of 1,772,363 shares.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BIR. Raymond James Financial lowered shares of Birchcliff Energy from a “moderate buy” rating to a “hold” rating and dropped their price objective for the stock from C$8.50 to C$8.00 in a report on Wednesday, September 16th. Ventum Financial set a C$8.00 target price on shares of Birchcliff Energy and gave the company a “neutral” rating in a research note on Friday, October 23rd. Five investment analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$8.30.

Birchcliff Energy Trading Down 4.1%

The company’s 50-day moving average is C$6.57 and its 200-day moving average is C$6.63. The firm has a market cap of C$1.79 billion, a price-to-earnings ratio of 18.63, a P/E/G ratio of 0.35 and a beta of -0.56. The company has a debt-to-equity ratio of 24.38, a quick ratio of 0.97 and a current ratio of 0.99.

Birchcliff Energy (TSE:BIR) last posted its quarterly earnings data on Wednesday, August 12th. The oil and natural gas company reported C$0.05 earnings per share for the quarter. Birchcliff Energy had a net margin of 13.31% and a return on equity of 4.22%. The firm had revenue of C$193.41 million during the quarter. On average, research analysts predict that Birchcliff Energy Ltd. will post 0.11 earnings per share for the current year.

Birchcliff Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, September 15th. Birchcliff Energy’s dividend payout ratio is 34.29%.

Birchcliff Energy Company Profile

Birchcliff is an intermediate oil and natural gas company based in Calgary, Alberta with operations focused on the exploration and development of the Montney Resource Play in Alberta. Birchcliff’s common shares are listed for trading on the Toronto Stock Exchange under the symbol ‘BIR’.