Birchcliff Energy (OTCMKTS:BIREF) Shares Gap Up – Still a Buy?

Birchcliff Energy Ltd. (OTCMKTS:BIREF) shares 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 changing hands.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Birchcliff Energy in a report on Thursday, August 13th. Scotiabank upgraded Birchcliff Energy to a “hold” rating in a report on Friday, June 26th. Finally, Raymond James Financial downgraded Birchcliff Energy from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 16th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Birchcliff Energy Trading Down 2.1%

The stock has a market cap of $1.27 billion, a P/E ratio of 18.48 and a beta of 0.31. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.20. The stock’s fifty day moving average price is $4.55 and its 200 day moving average price is $4.64.

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