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

Birchcliff Energy Ltd. (OTCMKTS:BIREF)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $4.88, but opened at $4.70. Birchcliff Energy shares last traded at $4.69, with a volume of 928 shares changing hands.

Analyst Ratings Changes

Separately, BMO Capital Markets lowered Birchcliff Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Birchcliff Energy Stock Down 1.6%

The company has a current ratio of 1.17, a quick ratio of 1.23 and a debt-to-equity ratio of 0.18. The stock has a 50-day simple moving average of $4.66 and a 200-day simple moving average of $5.06. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 27.59 and a beta of 0.20.

Birchcliff Energy (OTCMKTS:BIREF) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. Birchcliff Energy had a return on equity of 3.08% and a net margin of 9.45%.The company had revenue of $158.68 million during the quarter, compared to analyst estimates of $156.21 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.