Birchcliff Energy (OTCMKTS:BIREF) Shares Gap Up – Should You Buy?

Birchcliff Energy Ltd. (OTCMKTS:BIREF)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $4.48, but opened at $4.70. Birchcliff Energy shares last traded at $4.64, with a volume of 1,005 shares traded.

Wall Street Analysts Forecast Growth

BIREF has been the topic of a number of analyst reports. BMO Capital Markets lowered Birchcliff Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Scotiabank upgraded Birchcliff Energy to a “hold” rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Birchcliff Energy presently has an average rating of “Moderate Buy”.

Birchcliff Energy Trading Up 1.1%

The stock has a market cap of $1.29 billion, a PE ratio of 27.64 and a beta of 0.17. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.18. The firm has a fifty day simple moving average of $4.62 and a two-hundred day simple moving average of $4.87.

Birchcliff Energy (OTCMKTS:BIREF) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.14 by $0.04. The company had revenue of $158.68 million during the quarter, compared to analyst estimates of $156.21 million. Birchcliff Energy had a return on equity of 3.08% and a net margin of 9.45%.

About Birchcliff Energy

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.