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

Birchcliff Energy Ltd. (OTCMKTS:BIREF) shares gapped up before the market opened on Monday . The stock had previously closed at $4.63, but opened at $4.9075. Birchcliff Energy shares last traded at $4.6555, with a volume of 32,734 shares traded.

Analysts Set New Price Targets

BIREF has been the topic of a number of research reports. Canadian Imperial Bank of Commerce lowered shares of Birchcliff Energy to a “neutral” rating in a report on Thursday, January 15th. BMO Capital Markets lowered shares of Birchcliff Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Birchcliff Energy Stock Down 1.7%

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market capitalization of $1.27 billion, a P/E ratio of 28.81 and a beta of 0.21. The stock’s fifty day simple moving average is $4.89 and its two-hundred day simple moving average is $5.06.

Birchcliff Energy (OTCMKTS:BIREF) last posted its earnings results on Wednesday, May 13th. The company reported $999.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $998.86. Birchcliff Energy had a net margin of 8.86% and a return on equity of 2.81%.

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.