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

Birchcliff Energy Ltd. (OTCMKTS:BIREF) shares gapped up before the market opened on Wednesday . The stock had previously closed at $4.70, but opened at $4.92. Birchcliff Energy shares last traded at $4.88, with a volume of 2,500 shares changing hands.

Analyst Ratings Changes

Separately, BMO Capital Markets cut Birchcliff Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Birchcliff Energy Price Performance

The business’s 50 day moving average price is $4.78 and its 200 day moving average price is $5.08. The stock has a market capitalization of $1.36 billion, a P/E ratio of 29.06 and a beta of 0.20. 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 posted its earnings results on Wednesday, May 13th. The company reported $0.18 earnings per share for the quarter, beating 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.