Birchcliff Energy Ltd. (OTCMKTS:BIREF) Sees Significant Drop in Short Interest

Birchcliff Energy Ltd. (OTCMKTS:BIREF) was the target of a significant drop in short interest in February. As of February 28th, there was short interest totalling 12,331,500 shares, a drop of 13.5% from the February 13th total of 14,249,800 shares. Based on an average daily trading volume, of 160,300 shares, the days-to-cover ratio is currently 76.9 days. Currently, 4.6% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BIREF. National Bank Financial raised Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Scotiabank upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 17th. Cibc World Mkts upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 13th. TD Securities upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, Canaccord Genuity Group upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 13th. Six investment analysts have rated the stock with a strong buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Strong Buy”.

Birchcliff Energy Trading Up 5.6 %

Shares of OTCMKTS BIREF opened at $4.38 on Thursday. Birchcliff Energy has a one year low of $3.15 and a one year high of $4.83. The firm has a market capitalization of $1.19 billion, a PE ratio of 31.29 and a beta of 0.63. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $3.99 and a two-hundred day moving average price of $3.90.

Birchcliff Energy (OTCMKTS:BIREF) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.09 EPS for the quarter. Birchcliff Energy had a return on equity of 2.49% and a net margin of 9.39%.

Birchcliff Energy Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.0209 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a yield of 2.44%. Birchcliff Energy’s payout ratio is presently 57.14%.

Birchcliff Energy Company Profile

Birchcliff Energy Ltd., an intermediate oil and natural gas company, explores for, develops, and produces natural gas, light oil, condensate, and other natural gas liquids in Western Canada. The company holds interests in the areas of Montney/Doig Resource Play, including the Pouce Coupe and Gordondale properties in Alberta.