Birchcliff Energy (OTCMKTS:BIREF) Shares Gap Up – Still a Buy?

Shares of Birchcliff Energy Ltd. (OTCMKTS:BIREF) gapped up before the market opened on Monday . The stock had previously closed at $5.1550, but opened at $5.49. Birchcliff Energy shares last traded at $5.3670, with a volume of 11,902 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. TD Securities reiterated a “buy” rating on shares of Birchcliff Energy in a research note on Tuesday, September 30th. BMO Capital Markets upgraded Birchcliff Energy from a “hold” rating to an “outperform” rating in a research report on Monday, December 15th. Cibc Captl Mkts lowered Birchcliff Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 13th. Finally, CIBC cut shares of Birchcliff Energy to a “neutral” rating in a research report on Thursday, January 15th. Four equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy”.

Birchcliff Energy Price Performance

The business’s 50-day simple moving average is $5.30 and its two-hundred day simple moving average is $4.83. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 29.66 and a beta of 0.43. 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 announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.05). The firm had revenue of $107.43 million during the quarter, compared to the consensus estimate of $111.85 million. Birchcliff Energy had a net margin of 10.60% and a return on equity of 3.17%.

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.