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

Key Points

• Birchcliff Energy shares gapped down from $4.56 to open at $4.30 and last traded at $4.52 with a low trading volume of 1,927 shares.
• Several analysts have upgraded Birchcliff Energy, with Raymond James Financial and ATB Capital both raising their ratings to "outperform," contributing to an overall average rating of "Strong Buy."
• Birchcliff Energy recently increased its dividend to $0.0215 per share, yielding 168.0%, and has a current dividend payout ratio of 25.71%.

Shares of Birchcliff Energy Ltd. (OTCMKTS:BIREF - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $4.56, but opened at $4.30. Birchcliff Energy shares last traded at $4.52, with a volume of 1,927 shares.

Analysts Set New Price Targets

BIREF has been the topic of several research reports. Raymond James Financial raised Birchcliff Energy from a "hold" rating to a "moderate buy" rating in a report on Thursday, August 14th. Atb Cap Markets raised Birchcliff Energy from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. ATB Capital raised Birchcliff Energy to an "outperform" rating in a report on Thursday, August 14th. Finally, National Bankshares reissued an "outperform" rating on shares of Birchcliff Energy in a report on Thursday, May 15th. Seven analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Strong Buy".

Birchcliff Energy Price Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 1.52 and a quick ratio of 1.52. The company has a 50-day moving average price of $5.05 and a 200-day moving average price of $4.57. The firm has a market capitalization of $1.19 billion, a PE ratio of 22.84 and a beta of 0.59.

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 the consensus estimate of $0.08 by ($0.12). Birchcliff Energy had a net margin of 11.60% and a return on equity of 3.35%. The company had revenue of $123.78 million during the quarter, compared to analysts' expectations of $131.37 million.

Birchcliff Energy Increases Dividend

The business also recently disclosed a dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a $0.0215 dividend. This is an increase from Birchcliff Energy's previous dividend of $0.02. This represents a dividend yield of 168.0%. The ex-dividend date was Friday, June 13th. Birchcliff Energy's dividend payout ratio (DPR) is currently 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.