Birchcliff Energy (OTCMKTS:BIREF) Shares Gap Down - Here's What Happened

Key Points

• Birchcliff Energy shares gapped down from $4.33 to $4.10 before trading, with the last trade at $4.39.
• Analysts maintain a consensus of “Strong Buy” on the stock, with several firms upgrading their ratings recently.
• The company recently increased its dividend to $0.0218, equating to a yield of 197.0%, up from $0.02.

Birchcliff Energy Ltd. (OTCMKTS:BIREF - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $4.33, but opened at $4.10. Birchcliff Energy shares last traded at $4.39, with a volume of 5,164 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BIREF. TD Securities reiterated a "buy" rating on shares of Birchcliff Energy in a report on Tuesday, September 30th. Raymond James Financial raised Birchcliff Energy from a "hold" rating to a "moderate buy" rating in a research note on Thursday, August 14th. ATB Capital raised Birchcliff Energy to an "outperform" rating in a research report on Thursday, August 14th. Finally, Atb Cap Markets raised Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Six equities research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat.com, Birchcliff Energy currently has a consensus rating of "Strong Buy".

Birchcliff Energy Stock Performance

The business's 50-day moving average price is $4.44 and its 200-day moving average price is $4.66. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.24. The stock has a market cap of $1.17 billion, a PE ratio of 22.57 and a beta of 0.36.

Birchcliff Energy (OTCMKTS:BIREF - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.12). Birchcliff Energy had a return on equity of 3.33% and a net margin of 11.60%.The firm had revenue of $123.78 million during the quarter, compared to analysts' expectations of $131.37 million.

Birchcliff Energy Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, September 29th. Stockholders of record on Tuesday, September 16th were given a $0.0218 dividend. This represents a dividend yield of 197.0%. The ex-dividend date of this dividend was Monday, September 15th. This is an increase from Birchcliff Energy's previous dividend of $0.02. Birchcliff Energy's payout ratio is presently 47.37%.

Birchcliff Energy Company Profile

Birchcliff Energy Ltd., an intermediate oil and natural gas company, explores for, develops, and produces natural gas, light oil, condensate, and other natural gas liquids in Western Canada. The company holds interests in the areas of Montney/Doig Resource Play, including the Pouce Coupe and Gordondale properties in Alberta.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.