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

Birchcliff Energy Ltd. (OTCMKTS:BIREF) 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 trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BIREF. BMO Capital Markets raised shares of Birchcliff Energy from a “hold” rating to an “outperform” rating in a report on Monday, December 15th. CIBC cut shares of Birchcliff Energy to a “neutral” rating in a research note on Thursday, January 15th. TD Securities reiterated a “buy” rating on shares of Birchcliff Energy in a research note on Tuesday, September 30th. Finally, Cibc Captl Mkts downgraded shares of Birchcliff Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 13th. Four analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy”.

Birchcliff Energy Stock Down 0.9%

The business has a 50-day moving average price of $5.31 and a 200-day moving average price of $4.84. The stock has a market cap of $1.47 billion, a PE ratio of 29.67 and a beta of 0.43. 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 quarterly earnings data 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 company had revenue of $107.43 million for 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.