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

Birchcliff Energy Ltd. (OTCMKTS:BIREF) saw a large decline in short interest in March. As of March 15th, there was short interest totalling 9,642,400 shares, a decline of 21.8% from the February 28th total of 12,331,500 shares. Approximately 3.6% of the company’s shares are sold short. Based on an average trading volume of 181,600 shares, the days-to-cover ratio is presently 53.1 days.

Birchcliff Energy Price Performance

Shares of BIREF opened at $4.63 on Tuesday. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 33.09 and a beta of 0.63. The firm’s fifty day simple moving average is $4.08 and its 200-day simple moving average is $3.92. Birchcliff Energy has a twelve month low of $3.15 and a twelve month high of $4.83. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22.

Birchcliff Energy (OTCMKTS:BIREF) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.09 earnings per share 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 declared a dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.0209 dividend. This represents a yield of 2.44%. The ex-dividend date was Friday, March 14th. Birchcliff Energy’s dividend payout ratio (DPR) is 57.14%.

Analysts Set New Price Targets

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

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.