Birchcliff Energy (OTCMKTS:BIREF) Stock Crosses Below 50-Day Moving Average of $7.64

Posted by MarketBeat News on Aug 4th, 2022

Shares of Birchcliff Energy Ltd. (OTCMKTS:BIREF – Get Rating) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $7.64 and traded as low as $7.18. Birchcliff Energy shares last traded at $7.37, with a volume of 15,740 shares.

Analysts Set New Price Targets

BIREF has been the subject of several recent analyst reports. National Bank Financial decreased their price target on Birchcliff Energy from C$15.00 to C$13.50 in a research note on Monday, July 18th. Stifel Nicolaus cut their price objective on Birchcliff Energy from C$12.25 to C$11.25 in a report on Thursday, June 30th. BMO Capital Markets lifted their price objective on Birchcliff Energy from C$11.00 to C$11.50 in a report on Thursday, May 12th. Raymond James lifted their price objective on Birchcliff Energy from C$11.00 to C$12.00 in a report on Thursday, May 12th. Finally, Scotiabank lifted their price objective on Birchcliff Energy from C$13.00 to C$14.00 in a report on Thursday, July 14th. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $11.05.

Birchcliff Energy Stock Down 2.1 %

The firm has a market cap of $1.95 billion, a P/E ratio of 6.09 and a beta of 0.79. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $7.64 and a 200-day simple moving average of $6.78.

Birchcliff Energy (OTCMKTS:BIREF – Get Rating) last released its quarterly earnings data on Wednesday, May 11th. The company reported $0.36 earnings per share for the quarter. The firm had revenue of $225.77 million during the quarter. Birchcliff Energy had a return on equity of 22.71% and a net margin of 40.32%.

Birchcliff Energy Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were given a $0.0155 dividend. This is an increase from Birchcliff Energy’s previous dividend of $0.01. This represents a dividend yield of 0.65%. The ex-dividend date of this dividend was Tuesday, June 14th. Birchcliff Energy’s payout ratio is currently 4.96%.

Birchcliff Energy Company Profile

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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 located approximately 95 km northwest of Grande Prairie, Alberta.