Birchcliff Energy (OTCMKTS:BIREF) Shares Gap Down – Time to Sell?

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.

Analysts Set New Price Targets

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

Birchcliff Energy Price Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.23 and a quick ratio of 1.23. The company’s 50 day moving average price is $5.24 and its 200 day moving average price is $5.01. The firm has a market capitalization of $1.33 billion, a P/E ratio of 30.31 and a beta of 0.44.

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 analysts’ consensus estimates of $0.07. Birchcliff Energy had a net margin of 8.86% and a return on equity of 2.81%. The business had revenue of $141.66 million during the quarter, compared to analyst estimates of $138.97 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.