Birchcliff Energy (OTCMKTS:BIREF) Shares Gap Down – Here’s What Happened

Birchcliff Energy Ltd. (OTCMKTS:BIREF)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $5.5201, but opened at $5.23. Birchcliff Energy shares last traded at $5.4520, with a volume of 4,272 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. TD Securities reissued a “buy” rating on shares of Birchcliff Energy in a report on Tuesday, September 30th. BMO Capital Markets upgraded shares of Birchcliff Energy from a “hold” rating to an “outperform” rating in a research report on Monday, December 15th. Six equities research analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Strong Buy”.

Birchcliff Energy Stock Down 1.2%

The firm has a 50-day simple moving average of $5.08 and a 200 day simple moving average of $4.86. The stock has a market capitalization of $1.50 billion, a P/E ratio of 30.31 and a beta of 0.39. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.23 and a quick ratio of 1.23.

Birchcliff Energy (OTCMKTS:BIREF) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.05). Birchcliff Energy had a return on equity of 3.17% and a net margin of 10.60%.The firm had revenue of $107.43 million for the quarter, compared to the consensus estimate of $111.85 million.

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.