Birchcliff Energy (OTCMKTS:BIREF) Stock Price Down 4.1% – Here’s What Happened

Shares of Birchcliff Energy Ltd. (OTCMKTS:BIREF) traded down 4.1% during trading on Wednesday . The company traded as low as $5.58 and last traded at $5.58. 119,367 shares changed hands during mid-day trading, an increase of 10% from the average session volume of 108,617 shares. The stock had previously closed at $5.82.

Analyst Ratings Changes

A number of brokerages have issued reports on BIREF. 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 upgraded shares of Birchcliff Energy from a “hold” rating to an “outperform” rating in a research report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Birchcliff Energy presently has an average rating of “Buy”.

Birchcliff Energy Stock Performance

The stock has a fifty day simple moving average of $5.19 and a two-hundred day simple moving average of $4.97. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 34.63 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 EPS for the quarter, hitting 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 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.