Birchcliff Energy (OTCMKTS:BIREF) Sees Unusually-High Trading Volume – Still a Buy?

Birchcliff Energy Ltd. (OTCMKTS:BIREF) shares saw unusually-high trading volume on Wednesday. 325,500 shares traded hands during trading, an increase of 158% from the previous session’s volume of 126,017 shares. The stock last traded at $4.65 and had previously closed at $4.7080.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Raymond James Financial lowered shares of Birchcliff Energy from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 16th. Scotiabank raised shares of Birchcliff Energy to a “hold” rating in a research report on Friday, June 26th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Birchcliff Energy in a report on Friday. Four investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Birchcliff Energy Stock Down 1.9%

The company has a market capitalization of $1.27 billion, a P/E ratio of 18.48 and a beta of 0.31. The firm’s 50 day moving average price is $4.57 and its two-hundred day moving average price is $4.61. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.20.

Birchcliff Energy (OTCMKTS:BIREF) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $121.83 million.

About Birchcliff Energy

Birchcliff Energy Ltd. is a Canadian oil and natural gas exploration and production company headquartered in Calgary, Alberta. The company focuses primarily on the development and production of natural gas, condensate, natural gas liquids and light oil from properties in northwestern Alberta.

Birchcliff’s core operations are concentrated in the Peace River Arch area, including the Pouce Coupe and Gordondale regions. Its development activities target the Montney and Doig geological formations, which contain substantial unconventional natural gas and liquids resources.