Birchcliff Energy (OTCMKTS:BIREF) Shares Gap Up – Time to Buy?

Shares of Birchcliff Energy Ltd. (OTCMKTS:BIREF) 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 trading hands.

Analyst Ratings Changes

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

Birchcliff Energy Price Performance

The stock’s fifty day moving average is $4.87 and its 200-day moving average is $5.08. The stock has a market capitalization of $1.36 billion, a PE ratio of 29.12 and a beta of 0.21. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.23 and a quick ratio of 1.23.

Birchcliff Energy (OTCMKTS:BIREF) last issued its quarterly earnings results 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 company had revenue of $158.68 million for the quarter, compared to the consensus estimate of $156.21 million. Birchcliff Energy had a return on equity of 3.11% 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.