Short Interest in Birchcliff Energy Ltd. (OTCMKTS:BIREF) Declines By 13.5%

Birchcliff Energy Ltd. (OTCMKTS:BIREF) saw a significant drop in short interest in the month of 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. Approximately 4.6% of the company’s stock are short sold. Based on an average daily volume of 160,300 shares, the short-interest ratio is currently 76.9 days.

Birchcliff Energy Trading Down 0.1 %

OTCMKTS:BIREF opened at $4.38 on Friday. The firm has a market capitalization of $1.19 billion, a P/E ratio of 31.27 and a beta of 0.63. The business has a 50 day simple moving average of $4.00 and a 200 day simple moving average of $3.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01. Birchcliff Energy has a 12-month low of $3.15 and a 12-month high of $4.83.

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

Birchcliff Energy Cuts Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on BIREF. Scotiabank raised Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, January 17th. National Bank Financial upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Cormark upgraded shares of Birchcliff Energy to a “strong-buy” rating in a research note on Thursday, March 13th. TD Securities raised shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Cibc World Mkts raised shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 13th. Six research analysts have rated the stock with a strong buy rating, According to MarketBeat, Birchcliff Energy has a consensus rating of “Strong Buy”.

About Birchcliff Energy

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.