Birchcliff Energy (OTCMKTS:BIREF) Shares Gap Up – Time to Buy?

Birchcliff Energy Ltd. (OTCMKTS:BIREF)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $4.48, but opened at $4.70. Birchcliff Energy shares last traded at $4.64, with a volume of 1,005 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on BIREF shares. BMO Capital Markets lowered 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 research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Birchcliff Energy Stock Up 1.5%

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 business’s fifty day moving average price is $4.62 and its 200 day moving average price is $4.88. The company has a market capitalization of $1.28 billion, a P/E ratio of 27.36 and a beta of 0.17.

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

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.