Birchcliff Energy (OTCMKTS:BIREF) Shares Gap Up – Here’s What Happened

Birchcliff Energy Ltd. (OTCMKTS:BIREF) gapped up before the market opened on Friday . The stock had previously closed at $5.00, but opened at $5.29. Birchcliff Energy shares last traded at $5.07, with a volume of 7,829 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BIREF. BMO Capital Markets raised shares of Birchcliff Energy from a “hold” rating to an “outperform” rating in a research report on Monday, December 15th. Canadian Imperial Bank of Commerce lowered shares of Birchcliff Energy to a “neutral” rating in a research note on Thursday, January 15th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

Birchcliff Energy Price Performance

The firm has a market capitalization of $1.41 billion, a P/E ratio of 32.06 and a beta of 0.47. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.23 and a quick ratio of 1.23. The stock’s fifty day simple moving average is $5.28 and its 200 day simple moving average is $4.86.

Birchcliff Energy (OTCMKTS:BIREF) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. Birchcliff Energy had a net margin of 8.86% and a return on equity of 2.81%. The firm had revenue of $141.66 million for the quarter, compared to the consensus estimate of $138.97 million.

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.