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

Birchcliff Energy Ltd. (OTCMKTS:BIREF) shares gapped up prior to trading on Wednesday . The stock had previously closed at $4.92, but opened at $5.13. Birchcliff Energy shares last traded at $4.99, with a volume of 1,977 shares traded.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets cut shares of Birchcliff Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Birchcliff Energy Trading Down 2.0%

The stock’s 50 day moving average price is $4.88 and its 200-day moving average price is $5.08. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $1.37 billion, a PE ratio of 29.15 and a beta of 0.21.

Birchcliff Energy (OTCMKTS:BIREF) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. The firm had revenue of $158.68 million during the quarter, compared to analysts’ expectations of $156.21 million. Birchcliff Energy had a net margin of 9.45% and a return on equity of 3.11%.

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.