Birchcliff Energy (OTCMKTS:BIREF) Releases Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Birchcliff Energy (OTCMKTS:BIREF) posted its earnings results on Wednesday. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.05), Zacks reports. The business had revenue of $107.43 million for the quarter, compared to analyst estimates of $111.85 million. Birchcliff Energy had a return on equity of 3.17% and a net margin of 10.60%.

Birchcliff Energy Price Performance

BIREF stock traded up $0.04 during midday trading on Friday, reaching $5.00. 16,365 shares of the company’s stock traded hands, compared to its average volume of 86,410. The company has a 50-day simple moving average of $4.42 and a two-hundred day simple moving average of $4.70. Birchcliff Energy has a 1-year low of $3.15 and a 1-year high of $5.71. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.24. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 27.78 and a beta of 0.44.

Birchcliff Energy Increases Dividend

The company also recently declared a dividend, which was paid on Monday, September 29th. Investors of record on Tuesday, September 16th were issued a dividend of $0.0218 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a yield of 197.0%. This is an increase from Birchcliff Energy’s previous dividend of $0.02. Birchcliff Energy’s payout ratio is 47.37%.

Analyst Ratings Changes

BIREF has been the subject of several analyst reports. Atb Cap Markets upgraded shares of Birchcliff Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. ATB Capital raised Birchcliff Energy to an “outperform” rating in a report on Thursday, August 14th. Raymond James Financial raised Birchcliff Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 14th. Finally, TD Securities reissued a “buy” rating on shares of Birchcliff Energy in a research note on Tuesday, September 30th. Six equities research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Strong Buy”.

About Birchcliff Energy

Birchcliff Energy Ltd., an intermediate oil and natural gas company, explores for, develops, and produces natural gas, light oil, condensate, and other natural gas liquids in Western Canada. The company holds interests in the areas of Montney/Doig Resource Play, including the Pouce Coupe and Gordondale properties in Alberta.