Birchcliff Energy (OTCMKTS:BIREF) Reaches New 12-Month High - Here's What Happened

Key Points

• Shares of Birchcliff Energy hit a new 52-week high of $5.90 during mid-day trading (about a 3.5% rise from the prior close) on roughly 39,786 shares traded.
• Analysts give the stock an average rating of Buy (one Strong Buy, three Buy, one Hold), with BMO upgrading to "outperform" and CIBC lowering to "neutral."
• On Feb. 11 the company reported quarterly EPS of $0.07 that met estimates and revenue of $141.66 million that beat expectations, with a net margin of 8.86%.

Shares of Birchcliff Energy Ltd. (OTCMKTS:BIREF - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $5.90 and last traded at $5.90, with a volume of 39786 shares traded. The stock had previously closed at $5.64.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BIREF shares. Canadian Imperial Bank of Commerce lowered Birchcliff Energy to a "neutral" rating in a research note on Thursday, January 15th. BMO Capital Markets upgraded shares of Birchcliff Energy from a "hold" rating to an "outperform" rating in a research report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy".

Birchcliff Energy Stock Up 3.5%

The company has a market cap of $1.60 billion, a P/E ratio of 36.47 and a beta of 0.44. The stock has a 50-day moving average of $5.17 and a two-hundred day moving average of $4.96. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.23 and a current ratio of 1.23.

Birchcliff Energy (OTCMKTS:BIREF - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.07 EPS for the quarter, meeting analysts' consensus estimates of $0.07. The business had revenue of $141.66 million for the quarter, compared to analysts' expectations of $138.97 million. 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.

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