Birchcliff Energy (OTCMKTS:BIREF) Issues Earnings Results, Beats Estimates By $0.04 EPS

Birchcliff Energy (OTCMKTS:BIREF) issued its quarterly earnings data on Wednesday. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04, Zacks reports. Birchcliff Energy had a return on equity of 2.81% and a net margin of 8.86%.The firm had revenue of $158.68 million during the quarter, compared to the consensus estimate of $156.21 million.

Birchcliff Energy Trading Up 5.2%

Shares of OTCMKTS BIREF traded up $0.24 during mid-day trading on Thursday, hitting $4.85. 40,432 shares of the company traded hands, compared to its average volume of 107,968. Birchcliff Energy has a 1 year low of $4.07 and a 1 year high of $5.90. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 30.30 and a beta of 0.21. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average of $4.89 and a two-hundred day moving average of $5.06.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BIREF. Canadian Imperial Bank of Commerce cut Birchcliff Energy to a “neutral” rating in a research note on Thursday, January 15th. BMO Capital Markets lowered Birchcliff Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

About Birchcliff Energy

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.