Birchcliff Energy (OTCMKTS:BIREF) Sees Strong Trading Volume – Still a Buy?

Birchcliff Energy Ltd. (OTCMKTS:BIREF) shares saw an uptick in trading volume on Wednesday. 325,500 shares traded hands during trading, an increase of 158% from the previous session’s volume of 126,017 shares. The stock last traded at $4.65 and had previously closed at $4.7080.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BIREF. Raymond James Financial downgraded Birchcliff Energy from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 16th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Birchcliff Energy in a report on Friday. Finally, Scotiabank raised Birchcliff Energy to a “hold” rating in a research report on Friday, June 26th. Four equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company currently has an average rating of “Hold”.

Birchcliff Energy Trading Down 1.9%

The company has a market cap of $1.27 billion, a price-to-earnings ratio of 18.48 and a beta of 0.31. 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 firm has a fifty day moving average price of $4.57 and a 200 day moving average price of $4.61.

Birchcliff Energy (OTCMKTS:BIREF) last released its earnings results on Wednesday, August 12th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). Birchcliff Energy had a net margin of 12.93% and a return on equity of 4.23%. The firm had revenue of $124.98 million during the quarter, compared to the consensus estimate of $121.83 million.

About Birchcliff Energy

Birchcliff Energy Ltd. is a Canadian oil and natural gas exploration and production company headquartered in Calgary, Alberta. The company focuses primarily on the development and production of natural gas, condensate, natural gas liquids and light oil from properties in northwestern Alberta.

Birchcliff’s core operations are concentrated in the Peace River Arch area, including the Pouce Coupe and Gordondale regions. Its development activities target the Montney and Doig geological formations, which contain substantial unconventional natural gas and liquids resources.