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

Birchcliff Energy Ltd. (OTCMKTS:BIREF) saw unusually-high trading volume on Friday . 223,100 shares changed hands during mid-day trading, an increase of 108% from the previous session’s volume of 107,460 shares.The stock last traded at $4.49 and had previously closed at $4.4780.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BIREF shares. BMO Capital Markets downgraded Birchcliff Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Scotiabank upgraded shares of Birchcliff Energy to a “hold” rating in a report on Friday, June 26th. One investment 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Birchcliff Energy Stock Down 0.8%

The firm has a market capitalization of $1.22 billion, a P/E ratio of 26.13 and a beta of 0.17. The company has a fifty day simple moving average of $4.66 and a 200 day simple moving average of $4.93. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.18.

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

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.