Birchcliff Energy (OTCMKTS:BIREF) Shares Gap Up – Still a Buy?

Birchcliff Energy Ltd. (OTCMKTS:BIREF)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $4.3620, but opened at $4.5620. Birchcliff Energy shares last traded at $4.50, with a volume of 1,108 shares trading hands.

Wall Street Analyst Weigh In

BIREF has been the topic of several analyst reports. BMO Capital Markets downgraded Birchcliff Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Scotiabank upgraded Birchcliff Energy to a “hold” rating in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Birchcliff Energy Trading Up 3.2%

The firm has a 50 day simple moving average of $4.64 and a 200 day simple moving average of $4.97. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.24 billion, a PE ratio of 26.49 and a beta of 0.20.

Birchcliff Energy (OTCMKTS:BIREF) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. Birchcliff Energy had a return on equity of 3.08% and a net margin of 9.45%.The firm had revenue of $158.68 million for the quarter, compared to the consensus estimate of $156.21 million.

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.