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

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 recipient of a significant decrease in short interest in the month of 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. Based on an average daily trading volume, of 26,400 shares, the days-to-cover ratio is currently 150.6 days. Currently, 1.5% of the company's shares are sold short. Currently, 1.5% of the company's shares are sold short. Based on an average daily trading volume, of 26,400 shares, the days-to-cover ratio is currently 150.6 days.

Analyst Upgrades and Downgrades

BIREF has been the topic of a number of recent analyst reports. Atb Cap Markets upgraded 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 note 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 company. According to data from MarketBeat, the company presently has a consensus rating of "Strong Buy".

Birchcliff Energy Price Performance

BIREF opened at $4.35 on Wednesday. The firm has a market capitalization of $1.19 billion, a PE ratio of 22.89 and a beta of 0.42. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.47 and a quick ratio of 1.47. The business's 50-day moving average is $4.69 and its two-hundred day moving average is $4.63. Birchcliff Energy has a 1 year low of $3.15 and a 1 year high of $5.71.

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

Birchcliff Energy Increases Dividend

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

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.

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