Pine Cliff Energy (TSE:PNE) had its price target cut by analysts at Canaccord Genuity from C$0.80 to C$0.60 in a report issued on Wednesday. Canaccord Genuity’s price objective points to a potential upside of 122.22% from the company’s current price.
Several other research firms also recently weighed in on PNE. CIBC decreased their price objective on Pine Cliff Energy from C$0.50 to C$0.40 in a report on Tuesday, January 23rd. Desjardins decreased their price objective on Pine Cliff Energy from C$0.50 to C$0.40 in a report on Wednesday, February 14th. Finally, National Bank Financial decreased their price objective on Pine Cliff Energy from C$0.50 to C$0.30 and set a “sector perform” rating for the company in a report on Wednesday.
Pine Cliff Energy (PNE) remained flat at $C$0.27 during mid-day trading on Wednesday. 294,000 shares of the stock traded hands, compared to its average volume of 1,078,863. The stock has a market capitalization of $85.98, a P/E ratio of -2.70 and a beta of 0.32. Pine Cliff Energy has a 1 year low of C$0.26 and a 1 year high of C$0.86.
In other news, insider Robert Disbrow bought 150,000 shares of Pine Cliff Energy stock in a transaction on Tuesday, March 13th. The stock was acquired at an average cost of C$0.27 per share, for a total transaction of C$40,500.00. Insiders acquired 854,000 shares of company stock valued at $287,795 over the last quarter.
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Pine Cliff Energy Company Profile
Pine Cliff Energy Ltd. (Pine Cliff) is a Canada-based oil and gas exploration and production company. The Company is engaged in the exploration, development and production of oil and natural gas in the Western Canadian Sedimentary Basin (WCSB). It is also involved in the exploration for precious metals through its subsidiaries.
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