Birchcliff Energy (OTCMKTS:BIREF) Stock Falls 5.8% - Here's Why

Key Points

• Birchcliff Energy shares fell 5.8% to about $4.99 in mid-day trading, with volume plunging 98% below the average session level.
• Analyst sentiment remained cautious: CIBC maintained a “Neutral” rating, while Raymond James downgraded the stock from “Moderate Buy” to “Hold.” All four tracked analysts rate the shares Hold.
• The company’s latest quarterly earnings missed expectations, reporting $0.04 EPS versus the $0.06 consensus, although revenue of $124.98 million exceeded estimates.

Birchcliff Energy Ltd. (OTCMKTS:BIREF - Get Free Report) traded down 5.8% during mid-day trading on Tuesday. The stock traded as low as $4.98 and last traded at $4.99. Approximately 2,200 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 131,152 shares. The stock had previously closed at $5.30.

Analyst Ratings Changes

A number of brokerages have commented on BIREF. Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Birchcliff Energy in a research note on Friday, October 9th. Raymond James Financial lowered Birchcliff Energy from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, September 16th. Four analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock currently has an average rating of "Hold".

Birchcliff Energy Price Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.99 and a current ratio of 0.99. The business's fifty day simple moving average is $4.66 and its 200 day simple moving average is $4.77. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 19.80 and a beta of 0.31.

Birchcliff Energy (OTCMKTS:BIREF - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.02). The business had revenue of $124.98 million for the quarter, compared to analyst estimates of $121.83 million. Birchcliff Energy had a net margin of 12.93% and a return on equity of 4.23%. Research analysts predict that Birchcliff Energy Ltd. will post 0.33 EPS for the current fiscal year.

Birchcliff Energy Company Profile

Birchcliff Energy Ltd. was a Canadian oil and natural gas exploration and production company headquartered in Calgary, Alberta. The company focused on developing conventional and unconventional petroleum resources in the Western Canadian Sedimentary Basin, with its operations concentrated in Alberta's Peace River Arch area.

Birchcliff's primary products included natural gas, crude oil and natural gas liquids. Its core assets included the Montney and Doig formations near Grande Prairie, where the company used horizontal drilling and hydraulic fracturing to develop liquids-rich natural gas resources.

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