Birchcliff Energy (OTCMKTS:BIREF) Sets New 1-Year High – What’s Next?

Birchcliff Energy Ltd. (OTCMKTS:BIREF) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $4.84 and last traded at $4.79, with a volume of 54011 shares trading hands. The stock had previously closed at $4.78.

Analysts Set New Price Targets

BIREF has been the subject of a number of research analyst reports. Cormark raised Birchcliff Energy to a “strong-buy” rating in a research note on Thursday, March 13th. Scotiabank raised shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 17th. TD Securities upgraded shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. Canaccord Genuity Group upgraded shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 13th. Finally, Cibc World Mkts upgraded 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, the stock presently has a consensus rating of “Strong Buy”.

Birchcliff Energy Price Performance

The firm has a market cap of $1.30 billion, a P/E ratio of 34.21 and a beta of 0.63. 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 firm’s 50 day moving average is $4.09 and its 200 day moving average is $3.93.

Birchcliff Energy (OTCMKTS:BIREF) last posted its quarterly 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 disclosed a dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid 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 dividend payout ratio is currently 57.14%.

Birchcliff Energy Company Profile

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.