Birchcliff Energy (OTCMKTS:BIREF) Shares Gap Up – Should You Buy?

Birchcliff Energy Ltd. (OTCMKTS:BIREF)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $4.4610, but opened at $4.61. Birchcliff Energy shares last traded at $4.5450, with a volume of 16,174 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BIREF shares. Canadian Imperial Bank of Commerce downgraded shares of Birchcliff Energy to a “neutral” rating in a research note on Thursday, January 15th. BMO Capital Markets downgraded shares of Birchcliff Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Birchcliff Energy has an average rating of “Moderate Buy”.

Birchcliff Energy Price Performance

The company’s 50-day simple moving average is $5.18 and its 200-day simple moving average is $5.02. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 27.51 and a beta of 0.43.

Birchcliff Energy (OTCMKTS:BIREF) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. The firm had revenue of $141.66 million during the quarter, compared to the consensus estimate of $138.97 million. Birchcliff Energy had a net margin of 8.86% and a return on equity of 2.81%.

Birchcliff Energy Company Profile

Birchcliff Energy Ltd. (OTCMKTS: BIREF) is a Canada-based exploration and production company headquartered in Calgary, Alberta. Since its founding in 2000, Birchcliff has focused on developing natural gas, natural gas liquids and light oil resources in Western Canada. The company is publicly listed on the Toronto Stock Exchange and the OTC Markets and maintains an integrated asset base to support its upstream and midstream activities.

The company’s core operations are concentrated in the Montney formation of northeastern British Columbia and northwestern Alberta, one of North America’s largest unconventional resource plays.