Birchcliff Energy (OTCMKTS:BIREF) Stock Price Crosses Below 50-Day Moving Average – Here’s Why

Birchcliff Energy Ltd. (OTCMKTS:BIREF) passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $4.56 and traded as low as $4.46. Birchcliff Energy shares last traded at $4.5050, with a volume of 50,756 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently commented on BIREF shares. BMO Capital Markets lowered Birchcliff Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Scotiabank upgraded Birchcliff Energy to a “hold” rating in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Birchcliff Energy currently has an average rating of “Moderate Buy”.

Birchcliff Energy Price Performance

The firm has a 50 day moving average price of $4.56 and a 200 day moving average price of $4.83. The stock has a market capitalization of $1.24 billion, a PE ratio of 26.50 and a beta of 0.18. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.18.

Birchcliff Energy (OTCMKTS:BIREF) last released its earnings results on Wednesday, May 13th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.04. The company had revenue of $158.68 million for the quarter, compared to the consensus estimate of $156.21 million. Birchcliff Energy had a return on equity of 3.08% and a net margin of 9.45%.

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.