Birchcliff Energy (OTCMKTS:BIREF) Shares Gap Up – Still a Buy?

Shares of Birchcliff Energy Ltd. (OTCMKTS:BIREF) gapped up prior to trading on Wednesday . The stock had previously closed at $4.3620, but opened at $4.5620. Birchcliff Energy shares last traded at $4.50, with a volume of 1,108 shares.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BIREF. BMO Capital Markets downgraded shares of Birchcliff Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Scotiabank raised shares of 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 given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

Birchcliff Energy Stock Up 3.2%

The stock’s 50-day moving average price is $4.64 and its two-hundred day moving average price is $4.97. The stock has a market capitalization of $1.24 billion, a PE ratio of 26.49 and a beta of 0.20. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.17 and a current ratio of 1.17.

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 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 net margin of 9.45% and a return on equity of 3.08%.

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.