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

Birchcliff Energy Ltd. (OTCMKTS:BIREF)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $4.2299, but opened at $4.48. Birchcliff Energy shares last traded at $4.23, with a volume of 12,455 shares.

Analyst Upgrades and Downgrades

BIREF has been the subject of several recent analyst reports. Canadian Imperial Bank of Commerce lowered Birchcliff Energy to a “neutral” rating in a research note on Thursday, January 15th. BMO Capital Markets lowered Birchcliff Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Birchcliff Energy Stock Performance

The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 26.44 and a beta of 0.43. 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 50 day moving average price of $5.03 and a two-hundred day moving average price of $5.04.

Birchcliff Energy (OTCMKTS:BIREF) last announced its earnings results on Wednesday, February 11th. The company reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. Birchcliff Energy had a return on equity of 2.81% and a net margin of 8.86%.The company had revenue of $141.66 million during the quarter, compared to analyst estimates of $138.97 million.

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.