Birchcliff Energy (OTCMKTS:BIREF) Posts Earnings Results, Meets Expectations

Birchcliff Energy (OTCMKTS:BIREF) announced its quarterly earnings results on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03, Zacks reports. Birchcliff Energy had a return on equity of 4.23% and a net margin of 12.93%.

Birchcliff Energy Stock Performance

OTCMKTS:BIREF traded up $0.07 during mid-day trading on Thursday, hitting $4.82. The stock had a trading volume of 23,090 shares, compared to its average volume of 130,099. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.20. The company has a 50 day simple moving average of $4.68 and a 200-day simple moving average of $4.76. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 19.28 and a beta of 0.30. Birchcliff Energy has a 52 week low of $4.11 and a 52 week high of $5.90.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BIREF. Raymond James Financial lowered Birchcliff Energy from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 16th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Birchcliff Energy in a research report on Friday, October 9th. Four equities research analysts have rated the stock with a Hold rating. According to MarketBeat, the company presently has an average rating of “Hold”.

About Birchcliff Energy

Birchcliff Energy Ltd. is a Canadian oil and natural gas exploration and production company. It develops and produces natural gas, light oil, condensate and natural gas liquids. The company’s operations are concentrated in Alberta’s Peace River Arch region, where its key assets include the Montney and Doig resource plays and the Charlie Lake formation. Birchcliff also operates processing and related infrastructure to support its production. Founded in 2004 and headquartered in Calgary, Alberta, Birchcliff focuses on developing its Western Canadian resource base.