Birchcliff Energy (OTCMKTS:BIREF) Reaches New 52-Week High – Here’s Why

Birchcliff Energy Ltd. (OTCMKTS:BIREF) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $5.15 and last traded at $5.13, with a volume of 88971 shares trading hands. The stock had previously closed at $5.03.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Canaccord Genuity Group upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 13th. Cibc World Mkts upgraded shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 13th. Raymond James upgraded Birchcliff Energy to a “moderate buy” rating in a report on Monday, April 7th. National Bankshares reissued an “outperform” rating on shares of Birchcliff Energy in a research note on Thursday, May 15th. Finally, Cormark upgraded shares of Birchcliff Energy to a “strong-buy” rating in a report on Thursday, March 13th. One investment analyst has rated the stock with a buy rating and six have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Strong Buy”.

Birchcliff Energy Stock Performance

The business’s fifty day moving average price is $4.45 and its 200-day moving average price is $4.10. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $1.40 billion, a PE ratio of 36.64 and a beta of 0.57.

Birchcliff Energy (OTCMKTS:BIREF) last released its quarterly earnings results on Wednesday, May 14th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $136.68 million during the quarter, compared to analyst estimates of $141.51 million. 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 announced a dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.0209 per share. The ex-dividend date was Friday, March 14th. This represents a yield of 2.44%. Birchcliff Energy’s payout ratio is presently 22.86%.

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.