Birchcliff Energy (OTCMKTS:BIREF) Stock Price Passes Above 50-Day Moving Average – Here’s What Happened

Shares of Birchcliff Energy Ltd. (OTCMKTS:BIREF) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $5.13 and traded as high as $5.2790. Birchcliff Energy shares last traded at $5.2345, with a volume of 38,141 shares trading hands.

Analysts Set New Price Targets

BIREF has been the subject of several recent research reports. BMO Capital Markets raised Birchcliff Energy from a “hold” rating to an “outperform” rating in a research note on Monday, December 15th. Canadian Imperial Bank of Commerce downgraded shares of Birchcliff Energy to a “neutral” rating in a research report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Birchcliff Energy currently has an average rating of “Buy”.

Birchcliff Energy Stock Performance

The company has a 50-day moving average of $5.13 and a 200-day moving average of $4.92. The firm has a market capitalization of $1.44 billion, a P/E ratio of 32.72 and a beta of 0.44. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.24.

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

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.