Pine Cliff Energy (TSE:PNE) Price Target Raised to C$0.35

Pine Cliff Energy (TSE:PNE) had its target price boosted by equities researchers at National Bank Financial from C$0.30 to C$0.35 in a research note issued to investors on Thursday, April 12th. The brokerage currently has a “sector perform” rating on the stock. National Bank Financial’s price target points to a potential upside of 12.90% from the stock’s current price.

Other analysts have also recently issued research reports about the company. TD Securities lowered their price target on Pine Cliff Energy from C$0.50 to C$0.35 and set a “hold” rating for the company in a research report on Thursday, March 15th. CIBC decreased their price objective on Pine Cliff Energy from C$0.50 to C$0.40 in a report on Tuesday, January 23rd. Canaccord Genuity decreased their price objective on Pine Cliff Energy from C$0.80 to C$0.60 in a report on Wednesday, March 14th. Finally, Desjardins decreased their price objective on Pine Cliff Energy from C$0.50 to C$0.40 in a report on Wednesday, February 14th.

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Shares of Pine Cliff Energy stock traded down C$0.01 during trading on Thursday, reaching C$0.31. The company’s stock had a trading volume of 115,000 shares, compared to its average volume of 799,651. Pine Cliff Energy has a 1-year low of C$0.26 and a 1-year high of C$0.86.

Pine Cliff Energy (TSE:PNE) last posted its quarterly earnings data on Tuesday, March 13th. The company reported C($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of C($0.03) by C($0.01). Pine Cliff Energy had a negative return on equity of 69.00% and a negative net margin of 126.46%. The business had revenue of C$27.38 million during the quarter, compared to analyst estimates of C$26.30 million.

In other news, insider Robert Disbrow acquired 300,000 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was bought at an average cost of C$0.37 per share, for a total transaction of C$111,000.00. Also, insider George Frederick Fink purchased 131,000 shares of the company’s stock in a transaction dated Monday, April 2nd. The stock was bought at an average price of C$0.31 per share, with a total value of C$40,610.00. In the last 90 days, insiders purchased 941,500 shares of company stock valued at $303,820.

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About Pine Cliff Energy

Pine Cliff Energy Ltd. engages in the acquisition, exploration for, development, and production of natural gas, crude oil, and natural gas liquids in the Western Canadian Sedimentary Basin.The company primarily holds interests in natural gas assets in the Southern core area and Edson core area; and oil and natural gas assets in the Viking and Ghost Pine area of Central Alberta.

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