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

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

Birchcliff Energy Trading Up 0.1 %

Shares of OTCMKTS BIREF traded up $0.00 during mid-day trading on Friday, reaching $4.38. The company had a trading volume of 781,058 shares, compared to its average volume of 126,864. The business's 50-day moving average is $4.00 and its 200-day moving average is $3.90. 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 stock has a market cap of $1.19 billion, a price-to-earnings ratio of 31.30 and a beta of 0.63. Birchcliff Energy has a 52 week low of $3.15 and a 52 week high of $4.83.

Birchcliff Energy (OTCMKTS:BIREF - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.09 EPS 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 declared a dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.0209 dividend. This represents a dividend yield of 2.44%. The ex-dividend date of this dividend is Friday, March 14th. Birchcliff Energy's payout ratio is presently 57.14%.

Analysts Set New Price Targets

A number of research analysts have weighed in on BIREF shares. Cormark upgraded shares of Birchcliff Energy to a "strong-buy" rating in a research report on Thursday, March 13th. National Bank Financial upgraded shares of Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. TD Securities upgraded shares of Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 23rd. 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. Finally, Canaccord Genuity Group upgraded shares of Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 13th. Six equities research analysts have rated the stock with a strong buy rating, According to MarketBeat.com, the company presently 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.