Short Interest in Birchcliff Energy Ltd. (OTCMKTS:BIREF) Drops By 21.8%

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

Analysts Set New Price Targets

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

Birchcliff Energy Stock Up 3.2 %

Shares of Birchcliff Energy stock opened at $4.78 on Wednesday. Birchcliff Energy has a twelve month low of $3.15 and a twelve month high of $4.83. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 34.14 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 company has a fifty day moving average price of $4.09 and a 200 day moving average price of $3.93.

Birchcliff Energy (OTCMKTS:BIREF) last issued its 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 company also recently announced a dividend, which was paid on Monday, March 31st. Stockholders 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 dividend yield of 2.44%. Birchcliff Energy’s payout ratio is currently 57.14%.

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.