Beach Energy (OTCMKTS:BCHEY) Shares Gap Up – Still a Buy?

Beach Energy Ltd. (OTCMKTS:BCHEY) gapped up before the market opened on Friday . The stock had previously closed at $17.35, but opened at $18.10. Beach Energy shares last traded at $18.47, with a volume of 208 shares trading hands.

Beach Energy Stock Performance

The stock has a 50 day simple moving average of $16.08 and a 200-day simple moving average of $16.38. The company has a quick ratio of 0.83, a current ratio of 1.16 and a debt-to-equity ratio of 0.01.

About Beach Energy

Beach Energy (OTCMKTS:BCHEY) is an Australia-based independent oil and gas exploration and production company. It focuses on the upstream segment of the hydrocarbons industry, encompassing geological appraisal, field development and production of both conventional and unconventional oil and gas resources. The company markets natural gas to domestic east coast customers and supplies crude oil to local and international refineries.

Beach Energy’s operations span several key sedimentary basins across Australia, including the Cooper Basin in South Australia, the Otway and Bass Basins in Victoria, and onshore assets in the Perth Basin of Western Australia.