Birchcliff Energy (OTCMKTS:BIREF) Trading Up 1.4% - What's Next?

Key Points

• Birchcliff Energy's stock increased by 1.4% during mid-day trading, reaching a last traded price of $4.59, with trading volume up by 41% compared to its average.
• Analysts have largely maintained a positive outlook on Birchcliff Energy, with several upgrades resulting in six "Strong Buy" ratings and three "Buy" ratings from various brokerages.
• The company recently announced a dividend increase, declaring a payment of $0.0218 per share, which reflects a robust yield of 197.0% and a payout ratio of 47.37%.

Birchcliff Energy Ltd. (OTCMKTS:BIREF - Get Free Report) shot up 1.4% during mid-day trading on Wednesday . The stock traded as high as $4.60 and last traded at $4.59. 212,741 shares traded hands during mid-day trading, an increase of 41% from the average session volume of 150,380 shares. The stock had previously closed at $4.53.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BIREF. TD Securities reaffirmed a "buy" rating on shares of Birchcliff Energy in a research note on Tuesday, September 30th. 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. ATB Capital raised shares of Birchcliff Energy to an "outperform" rating in a research note on Thursday, August 14th. Finally, Atb Cap Markets raised shares of Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Six investment analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Strong Buy".

Birchcliff Energy Stock Up 1.4%

The firm's 50 day moving average is $4.36 and its two-hundred day moving average is $4.64. The firm has a market cap of $1.25 billion, a P/E ratio of 24.18 and a beta of 0.36. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.24.

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

Birchcliff Energy Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, September 29th. Investors of record on Tuesday, September 16th were paid a dividend of $0.0218 per share. This represents a yield of 197.0%. The ex-dividend date of this dividend was Monday, September 15th. This is a positive change from Birchcliff Energy's previous dividend of $0.02. Birchcliff Energy's payout ratio is 47.37%.

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.

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