Birchcliff Energy (OTCMKTS:BIREF) Stock Price Up 9.3% – Here’s Why

Birchcliff Energy Ltd. (OTCMKTS:BIREF) rose 9.3% during mid-day trading on Monday . The stock traded as high as $5.06 and last traded at $5.06. Approximately 41,134 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 97,875 shares. The stock had previously closed at $4.63.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets downgraded shares of Birchcliff Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. One equities 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 company’s stock. Based on data from MarketBeat, Birchcliff Energy has an average rating of “Moderate Buy”.

Birchcliff Energy Stock Up 7.1%

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 29.18 and a beta of 0.20. The firm’s 50 day simple moving average is $4.72 and its 200-day simple moving average is $5.07.

Birchcliff Energy (OTCMKTS:BIREF) last announced its earnings results on Wednesday, May 13th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. Birchcliff Energy had a net margin of 9.45% and a return on equity of 3.11%. The business had revenue of $158.68 million during the quarter, compared to analysts’ expectations 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.