Birchcliff Energy (OTCMKTS:BIREF) Sees Large Volume Increase – Time to Buy?

Shares of Birchcliff Energy Ltd. (OTCMKTS:BIREF) saw strong trading volume on Wednesday. 325,500 shares traded hands during mid-day trading, an increase of 158% from the previous session’s volume of 126,017 shares. The stock last traded at $4.65 and had previously closed at $4.7080.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Scotiabank upgraded shares of Birchcliff Energy to a “hold” rating in a report on Friday, June 26th. Raymond James Financial lowered shares of Birchcliff Energy from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 16th. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Birchcliff Energy in a report on Friday, October 9th. Four equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock has an average rating of “Hold”.

Birchcliff Energy Trading Up 1.2%

The company has a market capitalization of $1.29 billion, a P/E ratio of 18.52 and a beta of 0.31. The business has a fifty day moving average price of $4.58 and a 200 day moving average price of $4.60. 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 data on Wednesday, August 12th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $124.98 million for the quarter, compared to analyst estimates of $121.83 million. Birchcliff Energy had a return on equity of 4.23% and a net margin of 12.93%.

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.