Birchcliff Energy (OTCMKTS:BIREF) Posts Quarterly Earnings Results, Hits Expectations

Birchcliff Energy (OTCMKTS:BIREF) issued its earnings results on Wednesday. The company reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07, Zacks reports. The business had revenue of $141.66 million for the quarter, compared to the consensus estimate of $138.97 million. Birchcliff Energy had a net margin of 8.86% and a return on equity of 2.81%.

Birchcliff Energy Stock Up 1.4%

BIREF stock traded up $0.07 during mid-day trading on Friday, hitting $5.07. 7,829 shares of the company were exchanged, compared to its average volume of 144,346. The firm has a fifty day simple moving average of $5.28 and a 200 day simple moving average of $4.86. The company has a market capitalization of $1.39 billion, a PE ratio of 31.69 and a beta of 0.47. Birchcliff Energy has a twelve month low of $3.34 and a twelve month high of $5.90. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.24.

Analysts Set New Price Targets

BIREF has been the topic of a number of recent research reports. BMO Capital Markets upgraded Birchcliff Energy from a “hold” rating to an “outperform” rating in a research note on Monday, December 15th. Canadian Imperial Bank of Commerce cut Birchcliff Energy to a “neutral” rating in a report on Thursday, January 15th. Three analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

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.