Birchcliff Energy (OTCMKTS:BIREF) Sees Strong Trading Volume - Should You Buy?

Key Points

• Birchcliff Energy experienced a significant surge in trading volume, with approximately 274,690 shares traded, representing a 220% increase from the previous day.
• Analysts remain optimistic, with an average rating of "Strong Buy", as several firms, including Raymond James and National Bankshares, have recently upgraded their ratings.
• The company announced a dividend increase, declaring $0.0215 per share with a yield of 1.68%, reflecting a positive change from its previous dividend of $0.02.

Birchcliff Energy Ltd. (OTCMKTS:BIREF - Get Free Report) saw an uptick in trading volume on Wednesday . 274,690 shares were traded during trading, an increase of 220% from the previous session's volume of 85,846 shares.The stock last traded at $5.00 and had previously closed at $5.07.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BIREF shares. Raymond James Financial raised shares of Birchcliff Energy to a "moderate buy" rating in a research note on Monday, April 7th. National Bankshares reaffirmed an "outperform" rating on shares of Birchcliff Energy in a research note on Thursday, May 15th. One research analyst has rated the stock with a buy rating and six have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Strong Buy".

Birchcliff Energy Stock Down 1.4%

The business's 50 day moving average is $5.13 and its 200-day moving average is $4.51. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 13.80 and a beta of 0.60. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.52 and a current ratio of 1.52.

Birchcliff Energy (OTCMKTS:BIREF - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. Birchcliff Energy had a net margin of 21.85% and a return on equity of 6.09%. The company had revenue of $136.68 million for the quarter, compared to analysts' expectations of $141.51 million.

Birchcliff Energy Increases Dividend

The business also recently declared a dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $0.0215 per share. The ex-dividend date was Friday, June 13th. This represents a dividend yield of 168.0%. This is a boost from Birchcliff Energy's previous dividend of $0.02. Birchcliff Energy's payout ratio is presently 22.86%.

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.