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

Birchcliff Energy Ltd. (OTCMKTS:BIREF) saw a significant 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. Currently, 3.6% of the shares of the stock are sold short. Based on an average daily volume of 181,600 shares, the days-to-cover ratio is currently 53.1 days.

Birchcliff Energy Price Performance

Shares of Birchcliff Energy stock opened at $4.65 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.01. Birchcliff Energy has a 52-week low of $3.15 and a 52-week high of $4.83. The company has a fifty day moving average of $4.07 and a 200-day moving average of $3.92. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 33.21 and a beta of 0.63.

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

Analysts Set New Price Targets

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