Birchcliff Energy (OTCMKTS:BIREF) Shares Gap Down – Here’s Why

Shares of Birchcliff Energy Ltd. (OTCMKTS:BIREF) gapped down before the market opened on Thursday . The stock had previously closed at $4.67, but opened at $4.4889. Birchcliff Energy shares last traded at $4.48, with a volume of 2,550 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have commented on BIREF. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Birchcliff Energy in a report on Thursday, August 13th. Scotiabank upgraded shares of Birchcliff Energy to a “hold” rating in a research note on Friday, June 26th. Finally, Raymond James Financial lowered Birchcliff Energy from a “moderate buy” rating to a “hold” rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Birchcliff Energy Price Performance

The stock has a market capitalization of $1.23 billion, a P/E ratio of 17.93 and a beta of 0.16. The company has a 50 day moving average of $4.57 and a 200-day moving average of $4.71. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.20.

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

About Birchcliff Energy

Birchcliff Energy Ltd. is a Canadian oil and natural gas exploration and production company. Its operations are focused primarily on developing unconventional petroleum and natural gas resources, with production that includes natural gas, condensate, natural gas liquids and crude oil.

The company’s core asset base is located in the Peace River Arch area of northwestern Alberta, where it develops resources from the Montney and Charlie Lake formations. Birchcliff also owns and operates related processing and infrastructure assets, including the Pouce Coupe gas plant, which supports the treatment and transportation of production from its regional operations.

Birchcliff was founded in 2004 and is headquartered in Calgary, Alberta.