Birchcliff Energy (OTCMKTS:BIREF) Shares Gap Down – Here’s Why

Birchcliff Energy Ltd. (OTCMKTS:BIREF)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $4.67, but opened at $4.4889. Birchcliff Energy shares last traded at $4.48, with a volume of 2,550 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BIREF. Raymond James Financial downgraded shares of Birchcliff Energy from a “moderate buy” rating to a “hold” rating in a research note on Wednesday. Scotiabank upgraded Birchcliff Energy to a “hold” rating in a report on Friday, June 26th. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Birchcliff Energy in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Birchcliff Energy Trading Down 0.1%

The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.99 and a current ratio of 0.99. The company’s fifty day simple moving average is $4.58 and its 200-day simple moving average is $4.71. The company has a market capitalization of $1.23 billion, a P/E ratio of 17.95 and a beta of 0.16.

Birchcliff Energy (OTCMKTS:BIREF) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). Birchcliff Energy had a net margin of 12.93% and a return on equity of 4.23%. The business had revenue of $124.98 million during the quarter, compared to the consensus estimate of $121.83 million.

Birchcliff Energy Company Profile

Birchcliff Energy Ltd. is a Canadian oil and natural gas exploration and production company. Its operations are focused primarily on developing unconventional petroleum and natural gas resources, with production that includes natural gas, condensate, natural gas liquids and crude oil.

The company’s core asset base is located in the Peace River Arch area of northwestern Alberta, where it develops resources from the Montney and Charlie Lake formations. Birchcliff also owns and operates related processing and infrastructure assets, including the Pouce Coupe gas plant, which supports the treatment and transportation of production from its regional operations.

Birchcliff was founded in 2004 and is headquartered in Calgary, Alberta.