Birchcliff Energy (OTCMKTS:BIREF) Shares Down 4.1% – Here’s What Happened

Shares of Birchcliff Energy Ltd. (OTCMKTS:BIREF) dropped 4.1% on Wednesday . The stock traded as low as $5.58 and last traded at $5.58. Approximately 119,367 shares traded hands during mid-day trading, an increase of 10% from the average daily volume of 108,617 shares. The stock had previously closed at $5.82.

Analyst Ratings Changes

Several research analysts recently issued reports on BIREF shares. BMO Capital Markets raised shares of Birchcliff Energy from a “hold” rating to an “outperform” rating in a report on Monday, December 15th. Canadian Imperial Bank of Commerce cut shares of Birchcliff Energy to a “neutral” rating in a research note on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

Birchcliff Energy Trading Up 3.9%

The business’s fifty day moving average price is $5.21 and its 200 day moving average price is $4.98. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1.56 billion, a PE ratio of 35.44 and a beta of 0.44.

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