Birchcliff Energy (OTCMKTS:BIREF) Shares Down 3.6% – Here’s What Happened

Birchcliff Energy Ltd. (OTCMKTS:BIREF)’s stock price dropped 3.6% during trading on Tuesday . The stock traded as low as $4.55 and last traded at $4.55. 1,730 shares changed hands during trading, a decline of 98% from the average daily volume of 106,296 shares. The stock had previously closed at $4.72.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BIREF shares. Scotiabank upgraded Birchcliff Energy to a “hold” rating in a report on Friday, June 26th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Birchcliff Energy in a research note on Thursday, August 13th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Birchcliff Energy Trading Down 0.5%

The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.18. The business has a 50 day simple moving average of $4.51 and a two-hundred day simple moving average of $4.77. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 18.32 and a beta of 0.18.

Birchcliff Energy (OTCMKTS:BIREF) last announced its earnings results on Wednesday, August 12th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Birchcliff Energy had a net margin of 12.93% and a return on equity of 4.25%. The business had revenue of $124.98 million during the quarter, compared to analyst estimates of $121.83 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.