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

Birchcliff Energy Ltd. (OTCMKTS:BIREF) shares gapped up prior to trading on Wednesday . The stock had previously closed at $4.92, but opened at $5.13. Birchcliff Energy shares last traded at $4.99, with a volume of 1,977 shares.

Analysts Set New Price Targets

Separately, BMO Capital Markets lowered shares of Birchcliff Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Birchcliff Energy Trading Down 2.0%

The stock has a fifty day moving average of $4.88 and a 200 day moving average of $5.08. The company has a market capitalization of $1.37 billion, a P/E ratio of 29.15 and a beta of 0.21. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.23 and a current ratio of 1.23.

Birchcliff Energy (OTCMKTS:BIREF) last announced its earnings results on Wednesday, May 13th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. Birchcliff Energy had a return on equity of 3.11% and a net margin of 9.45%.The company had revenue of $158.68 million for the quarter, compared to analysts’ expectations of $156.21 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.