Birchcliff Energy (OTCMKTS:BIREF) Shares Gap Up – Here’s What Happened

Shares of Birchcliff Energy Ltd. (OTCMKTS:BIREF – Get Free Report) gapped up before the market opened on Wednesday. The stock had previously closed at $4.55, but opened at $4.72. Birchcliff Energy shares last traded at $4.72, with a volume of 2,062 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Raymond James Financial downgraded shares of Birchcliff Energy from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 16th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Birchcliff Energy in a report on Thursday, August 13th. Finally, Scotiabank raised Birchcliff Energy to a “hold” rating in a research note on Friday, June 26th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

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Birchcliff Energy Trading Down 2.1%

The firm’s 50 day moving average is $4.55 and its 200 day moving average is $4.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $1.27 billion, a PE ratio of 18.48 and a beta of 0.31.

Birchcliff Energy (OTCMKTS:BIREF – Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). Birchcliff Energy had a net margin of 12.93% and a return on equity of 4.23%. The firm had revenue of $124.98 million for the quarter, compared to analysts’ expectations of $121.83 million.

Birchcliff Energy Company Profile

(Get Free Report)

Birchcliff Energy Ltd. is a Canadian oil and natural gas exploration and production company headquartered in Calgary, Alberta. The company focuses primarily on the development and production of natural gas, condensate, natural gas liquids and light oil from properties in northwestern Alberta.

Birchcliff’s core operations are concentrated in the Peace River Arch area, including the Pouce Coupe and Gordondale regions. Its development activities target the Montney and Doig geological formations, which contain substantial unconventional natural gas and liquids resources.

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