Birchcliff Energy (OTCMKTS:BIREF) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

Birchcliff Energy Ltd. (OTCMKTS:BIREF) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $4.63 and traded as low as $4.4150. Birchcliff Energy shares last traded at $4.49, with a volume of 44,300 shares.

Wall Street Analyst Weigh In

Several brokerages recently commented on BIREF. BMO Capital Markets lowered shares of Birchcliff Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Scotiabank raised shares of Birchcliff Energy to a “hold” rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Birchcliff Energy Stock Performance

The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.18. The firm’s fifty day moving average price is $4.63 and its two-hundred day moving average price is $4.89. The stock has a market capitalization of $1.23 billion, a PE ratio of 26.41 and a beta of 0.17.

Birchcliff Energy (OTCMKTS:BIREF) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. Birchcliff Energy had a return on equity of 3.08% and a net margin of 9.45%.The company had revenue of $158.68 million for the quarter, compared to the consensus estimate of $156.21 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.