Birchcliff Energy (OTCMKTS:BIREF) Shares Gap Up – Should You Buy?

Birchcliff Energy Ltd. (OTCMKTS:BIREF)’s stock price gapped up before the market opened on Wednesday. The stock had previously closed at $4.55, but opened at $4.72. Birchcliff Energy shares last traded at $4.72, with a volume of 2,062 shares trading hands.

Wall Street Analyst Weigh In

BIREF has been the subject of several recent analyst reports. Raymond James Financial lowered Birchcliff Energy from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 16th. Scotiabank raised Birchcliff Energy to a “hold” rating in a report on Friday, June 26th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Birchcliff Energy in a report on Thursday, August 13th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Birchcliff Energy Trading Up 2.4%

The company has a debt-to-equity ratio of 0.20, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $1.29 billion, a PE ratio of 18.84 and a beta of 0.31. The company’s fifty day simple moving average is $4.56 and its 200-day simple moving average is $4.63.

Birchcliff Energy (OTCMKTS:BIREF) last released its earnings results on Wednesday, August 12th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Birchcliff Energy had a return on equity of 4.23% and a net margin of 12.93%.The company had revenue of $124.98 million for the quarter, compared to analysts’ expectations of $121.83 million.

About Birchcliff Energy

Birchcliff Energy Ltd. is a Canadian oil and natural gas exploration and production company headquartered in Calgary, Alberta. The company focuses primarily on the development and production of natural gas, condensate, natural gas liquids and light oil from properties in northwestern Alberta.

Birchcliff’s core operations are concentrated in the Peace River Arch area, including the Pouce Coupe and Gordondale regions. Its development activities target the Montney and Doig geological formations, which contain substantial unconventional natural gas and liquids resources.