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

Birchcliff Energy Ltd. (OTCMKTS:BIREF) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totalling 17,244,500 shares, a growth of 5.5% from the December 31st total of 16,349,600 shares. Based on an average trading volume of 129,500 shares, the days-to-cover ratio is currently 133.2 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BIREF shares. Scotiabank upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 17th. National Bank Financial upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, TD Securities upgraded Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd.

Birchcliff Energy Trading Down 4.8 %

Shares of OTCMKTS BIREF opened at $3.93 on Monday. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 98.27 and a beta of 0.62. Birchcliff Energy has a 12-month low of $3.15 and a 12-month high of $4.83. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The stock’s 50 day simple moving average is $3.77 and its 200 day simple moving average is $3.99.

Birchcliff Energy Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $0.0714 per share. This represents a yield of 8.06%. The ex-dividend date of this dividend was Friday, December 13th. Birchcliff Energy’s payout ratio is currently 700.18%.

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.