Pine Cliff Energy (TSE:PNE) PT Raised to C$0.40 at TD Securities

Pine Cliff Energy (TSE:PNE) had its target price increased by TD Securities from C$0.30 to C$0.40 in a note issued to investors on Thursday, May 10th. The firm currently has a “hold” rating on the stock. TD Securities’ target price indicates a potential upside of 17.65% from the company’s current price.

A number of other analysts have also recently weighed in on PNE. Desjardins decreased their target price on shares of Pine Cliff Energy from C$0.50 to C$0.40 in a research note on Wednesday, February 14th. National Bank Financial decreased their target price on shares of Pine Cliff Energy from C$0.50 to C$0.30 and set a “sector perform” rating on the stock in a research note on Wednesday, March 14th. Canaccord Genuity decreased their target price on shares of Pine Cliff Energy from C$0.80 to C$0.60 in a research note on Wednesday, March 14th. Finally, CIBC cut their price target on shares of Pine Cliff Energy from C$0.50 to C$0.40 in a report on Tuesday, January 23rd.

Pine Cliff Energy opened at C$0.34 on Thursday, according to MarketBeat. Pine Cliff Energy has a fifty-two week low of C$0.26 and a fifty-two week high of C$0.86.

Pine Cliff Energy (TSE:PNE) last posted its earnings results on Tuesday, May 8th. The company reported C($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.02) by C($0.03). The company had revenue of C$29.71 million for the quarter, compared to the consensus estimate of C$33.20 million. Pine Cliff Energy had a negative return on equity of 69.00% and a negative net margin of 126.46%.

In other Pine Cliff Energy news, insider Robert Disbrow purchased 150,000 shares of the business’s stock in a transaction dated Tuesday, March 13th. The shares were bought at an average price of C$0.27 per share, for a total transaction of C$40,500.00. Also, insider George Frederick Fink purchased 131,000 shares of the business’s stock in a transaction dated Monday, April 2nd. The shares were acquired at an average price of C$0.31 per share, for a total transaction of C$40,610.00. In the last quarter, insiders have bought 649,000 shares of company stock worth $193,195.

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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