Birchcliff Energy (OTCMKTS:BIREF) Shares Gap Up - Here's Why

Key Points

• Shares of Birchcliff Energy gapped up premarket from a $4.23 close to a $4.48 open, but were last trading around $4.23 on light volume (~12,455 shares).
• Analyst sentiment is mixed after recent downgrades (CIBC to neutral, BMO to hold), though consensus remains a Moderate Buy (1 Strong Buy, 2 Buy, 2 Hold).
• In the latest quarter Birchcliff reported EPS of $0.07 (in line with estimates) and revenue of $141.66M (above estimates); the company has a $1.17B market cap, a P/E of 26.44 and a debt-to-equity ratio of 0.24.

Shares of Birchcliff Energy Ltd. (OTCMKTS:BIREF - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $4.2299, but opened at $4.48. Birchcliff Energy shares last traded at $4.23, with a volume of 12,455 shares.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BIREF. Canadian Imperial Bank of Commerce cut Birchcliff Energy to a "neutral" rating in a research report on Thursday, January 15th. BMO Capital Markets cut Birchcliff Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Birchcliff Energy currently has an average rating of "Moderate Buy".

Birchcliff Energy Stock Up 0.0%

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a 50 day simple moving average of $5.03 and a 200-day simple moving average of $5.04. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 26.44 and a beta of 0.43.

Birchcliff Energy (OTCMKTS:BIREF - Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. Birchcliff Energy had a return on equity of 2.81% and a net margin of 8.86%.The firm had revenue of $141.66 million during the quarter, compared to analyst estimates of $138.97 million.

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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