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

Birchcliff Energy Ltd. (OTCMKTS:BIREF) shares gapped down prior to trading on Thursday . The stock had previously closed at $5.49, but opened at $5.00. Birchcliff Energy shares last traded at $5.0865, with a volume of 2,700 shares trading hands.

Analyst Ratings Changes

A number of analysts recently commented on the stock. BMO Capital Markets raised shares of Birchcliff Energy from a “hold” rating to an “outperform” rating in a report on Monday, December 15th. Canadian Imperial Bank of Commerce cut shares of Birchcliff Energy to a “neutral” rating in a report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy”.

Birchcliff Energy Price Performance

The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average price of $5.22 and a 200-day moving average price of $5.01. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 30.13 and a beta of 0.43.

Birchcliff Energy (OTCMKTS:BIREF) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. Birchcliff Energy had a net margin of 8.86% and a return on equity of 2.81%. The firm had revenue of $141.66 million for the quarter, compared to analysts’ expectations of $138.97 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.