Short Interest in Birchcliff Energy Ltd. (OTCMKTS:BIREF) Drops By 27.2%

Key Points

• Birchcliff Energy experienced a significant 27.2% decrease in short interest, falling to 3,976,500 shares as of August 31st.
• The company has received positive analyst ratings, with a consensus rating of "Strong Buy" and several analyst upgrades as of August 14th.
• Birchcliff Energy recently announced an increase in its dividend to $0.0218 per share, reflecting a yield of 197.0% and a payout ratio of 47.37%.

Birchcliff Energy Ltd. (OTCMKTS:BIREF - Get Free Report) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totaling 3,976,500 shares, a decrease of 27.2% from the August 15th total of 5,462,300 shares. Approximately 1.5% of the company's shares are short sold. Based on an average trading volume of 26,400 shares, the short-interest ratio is presently 150.6 days. Based on an average trading volume of 26,400 shares, the short-interest ratio is presently 150.6 days. Approximately 1.5% of the company's shares are short sold.

Birchcliff Energy Price Performance

Shares of OTCMKTS BIREF traded down $0.07 during trading on Friday, hitting $4.25. The company had a trading volume of 253,803 shares, compared to its average volume of 48,780. The stock has a fifty day simple moving average of $4.65 and a two-hundred day simple moving average of $4.63. Birchcliff Energy has a fifty-two week low of $3.15 and a fifty-two week high of $5.71. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 22.37 and a beta of 0.42. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.24.

Birchcliff Energy (OTCMKTS:BIREF - Get Free Report) last issued its earnings results on Wednesday, August 13th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.12). The firm had revenue of $123.78 million for the quarter, compared to analysts' expectations of $131.37 million. Birchcliff Energy had a return on equity of 3.33% and a net margin of 11.60%.

Birchcliff Energy Increases Dividend

The business also recently disclosed a dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.0218 per share. The ex-dividend date is Monday, September 15th. This represents a dividend yield of 197.0%. This is a boost from Birchcliff Energy's previous dividend of $0.02. Birchcliff Energy's payout ratio is presently 47.37%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BIREF. Atb Cap Markets upgraded shares of Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Raymond James Financial raised shares of Birchcliff Energy from a "hold" rating to a "moderate buy" rating in a research report on Thursday, August 14th. Finally, ATB Capital raised shares of Birchcliff Energy to an "outperform" rating in a research report on Thursday, August 14th. Seven research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company currently 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.