Birchcliff Energy (OTCMKTS:BIREF) Shares Gap Down – What’s Next?

Birchcliff Energy Ltd. (OTCMKTS:BIREF) shares gapped down prior to trading 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 trading hands.

Analyst Upgrades and Downgrades

BIREF has been the subject of several recent analyst reports. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Birchcliff Energy in a research note on Thursday, August 13th. Raymond James Financial cut shares of Birchcliff Energy from a “moderate buy” rating to a “hold” rating in a research report on Wednesday. Finally, Scotiabank upgraded shares of Birchcliff Energy to a “hold” rating in a report on Friday, June 26th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Birchcliff Energy Stock Performance

The business’s fifty day moving average price is $4.57 and its 200-day moving average price is $4.71. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $1.23 billion, a PE ratio of 17.93 and a beta of 0.16.

Birchcliff Energy (OTCMKTS:BIREF) last released 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 company had revenue of $124.98 million for the quarter, compared to analysts’ expectations 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.