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

Birchcliff Energy Ltd. (OTCMKTS:BIREF)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $5.1550, but opened at $5.49. Birchcliff Energy shares last traded at $5.3670, with a volume of 11,902 shares.

Analysts Set New Price Targets

BIREF has been the subject of several analyst reports. TD Securities reaffirmed a “buy” rating on shares of Birchcliff Energy in a research report on Tuesday, September 30th. BMO Capital Markets upgraded Birchcliff Energy from a “hold” rating to an “outperform” rating in a report on Monday, December 15th. Cibc Captl Mkts lowered shares of Birchcliff Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 13th. Finally, CIBC downgraded shares of Birchcliff Energy to a “neutral” rating in a research report on Thursday, January 15th. Four investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Birchcliff Energy has a consensus rating of “Buy”.

Birchcliff Energy Price Performance

The firm has a market capitalization of $1.47 billion, a P/E ratio of 29.66 and a beta of 0.43. The business has a 50-day moving average of $5.30 and a 200 day moving average of $4.83. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.24.

Birchcliff Energy (OTCMKTS:BIREF) last posted its earnings results on Wednesday, November 12th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.05). Birchcliff Energy had a return on equity of 3.17% and a net margin of 10.60%.The business had revenue of $107.43 million during the quarter, compared to analyst estimates of $111.85 million.

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.