Birchcliff Energy (OTCMKTS:BIREF) Announces Earnings Results

Birchcliff Energy (OTCMKTS:BIREF) announced its quarterly earnings results on Wednesday. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04, Zacks reports. Birchcliff Energy had a net margin of 8.86% and a return on equity of 2.81%. The firm had revenue of $158.68 million for the quarter, compared to analysts’ expectations of $156.21 million.

Birchcliff Energy Stock Performance

Shares of BIREF stock opened at $4.61 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.23 and a quick ratio of 1.23. The company’s fifty day moving average price is $4.89 and its two-hundred day moving average price is $5.06. The firm has a market capitalization of $1.27 billion, a P/E ratio of 28.81 and a beta of 0.21. Birchcliff Energy has a 12 month low of $4.07 and a 12 month high of $5.90.

Analyst Upgrades and Downgrades

BIREF has been the topic of a number of research reports. Canadian Imperial Bank of Commerce downgraded shares of Birchcliff Energy to a “neutral” rating in a research note on Thursday, January 15th. BMO Capital Markets cut shares of Birchcliff Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

About Birchcliff Energy

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.