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

Birchcliff Energy Ltd. (OTCMKTS:BIREF)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $5.02, but opened at $5.34. Birchcliff Energy shares last traded at $4.96, with a volume of 8,623 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BIREF. Canadian Imperial Bank of Commerce cut Birchcliff Energy to a “neutral” rating in a research note on Thursday, January 15th. BMO Capital Markets raised shares of Birchcliff Energy from a “hold” rating to an “outperform” rating in a research note on Monday, December 15th. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Birchcliff Energy Stock Performance

The business’s fifty day moving average is $5.19 and its two-hundred day moving average is $4.88. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.40 billion, a PE ratio of 31.81 and a beta of 0.44.

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